PriceSmart (NASDAQ:PSMT) Announces Earnings Results

PriceSmart (NASDAQ:PSMT - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02), Zacks reports. PriceSmart had a return on equity of 12.63% and a net margin of 2.82%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.08 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year.

PriceSmart Stock Up 5.3%

Shares of PSMT traded up $5.47 during mid-day trading on Friday, hitting $108.17. 561,147 shares of the company's stock were exchanged, compared to its average volume of 200,615. The firm has a fifty day moving average of $105.14 and a two-hundred day moving average of $95.49. PriceSmart has a twelve month low of $80.27 and a twelve month high of $113.59. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 22.82 and a beta of 0.78. The company has a quick ratio of 0.46, a current ratio of 1.25 and a debt-to-equity ratio of 0.08.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

Insider Activity at PriceSmart

In other news, EVP Paul Kovaleski sold 896 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $100.85, for a total transaction of $90,361.60. Following the transaction, the executive vice president owned 43,039 shares in the company, valued at $4,340,483.15. This represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Francisco Velasco sold 550 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $106.31, for a total transaction of $58,470.50. Following the transaction, the executive vice president owned 77,908 shares in the company, valued at approximately $8,282,399.48. This trade represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,386 shares of company stock worth $1,063,743 over the last quarter. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock valued at $26,000 after buying an additional 252 shares during the last quarter. Advisors Asset Management Inc. grew its stake in PriceSmart by 124.2% in the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company's stock valued at $59,000 after buying an additional 370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PriceSmart by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company's stock valued at $1,310,000 after buying an additional 648 shares during the last quarter. Intech Investment Management LLC grew its stake in PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company's stock valued at $1,640,000 after buying an additional 4,806 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PriceSmart by 12.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company's stock valued at $6,206,000 after buying an additional 7,717 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.