State of Alaska Department of Revenue Makes New $1.22 Million Investment in PriceSmart, Inc. (NASDAQ:PSMT)

State of Alaska Department of Revenue purchased a new position in PriceSmart, Inc. (NASDAQ:PSMT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,150 shares of the company’s stock, valued at approximately $1,219,000. State of Alaska Department of Revenue owned 0.06% of PriceSmart at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in PriceSmart in the 2nd quarter worth approximately $26,000. Private Capital Group LLC increased its stake in PriceSmart by 142.5% in the 2nd quarter. Private Capital Group LLC now owns 308 shares of the company’s stock worth $28,000 after purchasing an additional 181 shares during the period. Quantamental Technologies LLC increased its stake in PriceSmart by 39,000.0% in the 2nd quarter. Quantamental Technologies LLC now owns 1,173 shares of the company’s stock worth $60,000 after purchasing an additional 1,170 shares during the period. Tower Research Capital LLC TRC increased its stake in PriceSmart by 112.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,282 shares of the company’s stock worth $66,000 after purchasing an additional 679 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in PriceSmart by 10.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,103 shares of the company’s stock worth $108,000 after purchasing an additional 202 shares during the period. 72.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of PSMT stock opened at $67.30 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.45 and a current ratio of 1.28. PriceSmart, Inc. has a fifty-two week low of $48.06 and a fifty-two week high of $82.44. The firm has a market cap of $2.06 billion, a P/E ratio of 27.70 and a beta of 1.00. The business’s 50 day moving average price is $64.15 and its 200-day moving average price is $58.64.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, July 10th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.13. PriceSmart had a return on equity of 11.19% and a net margin of 2.23%. The company had revenue of $788.56 million for the quarter, compared to analyst estimates of $792.96 million. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue was up .8% on a year-over-year basis.

In related news, Director Robert E. Price sold 10,000 shares of PriceSmart stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $56.32, for a total transaction of $563,200.00. Following the sale, the director now directly owns 4,339,455 shares in the company, valued at $244,398,105.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chong Jesus Von sold 818 shares of PriceSmart stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $62.41, for a total value of $51,051.38. Following the sale, the executive vice president now owns 25,883 shares in the company, valued at $1,615,358.03. The disclosure for this sale can be found here. Insiders have sold 61,818 shares of company stock worth $3,801,331 over the last 90 days. 27.10% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on PSMT shares. ValuEngine upgraded PriceSmart from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Scotiabank upgraded PriceSmart from a “sector perform” rating to a “sector outperform” rating and set a $61.70 price objective on the stock in a research report on Wednesday, July 17th. Finally, BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a research report on Saturday, August 24th.

PriceSmart Profile

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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