SG Americas Securities LLC Reduces Stock Holdings in PriceSmart, Inc. (NASDAQ:PSMT)

SG Americas Securities LLC trimmed its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 29.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,153 shares of the company’s stock after selling 10,835 shares during the period. SG Americas Securities LLC’s holdings in PriceSmart were worth $1,859,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PSMT. Genesis Investment Management LLP purchased a new position in PriceSmart during the 3rd quarter worth $79,786,000. EdgePoint Investment Group Inc. grew its stake in PriceSmart by 12.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,898,986 shares of the company’s stock worth $199,316,000 after buying an additional 427,907 shares during the last quarter. Marathon Asset Management LLP purchased a new position in PriceSmart during the 2nd quarter worth $14,603,000. Renaissance Technologies LLC grew its stake in PriceSmart by 38.8% during the 2nd quarter. Renaissance Technologies LLC now owns 560,400 shares of the company’s stock worth $28,648,000 after buying an additional 156,700 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in PriceSmart during the 2nd quarter worth $7,316,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

In other PriceSmart news, EVP Chong Jesus Von sold 1,580 shares of PriceSmart stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $76.35, for a total transaction of $120,633.00. Following the completion of the sale, the executive vice president now owns 24,580 shares of the company’s stock, valued at approximately $1,876,683. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO William J. Naylon sold 2,852 shares of PriceSmart stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $75.45, for a total value of $215,183.40. Following the sale, the chief operating officer now directly owns 36,952 shares of the company’s stock, valued at approximately $2,788,028.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,087 shares of company stock valued at $4,521,813. 27.10% of the stock is currently owned by insiders.

Shares of PSMT stock opened at $72.80 on Friday. PriceSmart, Inc. has a 1-year low of $48.06 and a 1-year high of $79.90. The stock’s fifty day moving average price is $70.86 and its 200 day moving average price is $60.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.21 and a quick ratio of 0.39. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 26.74 and a beta of 1.00.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Tuesday, October 29th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.18. PriceSmart had a return on equity of 10.91% and a net margin of 2.27%. The firm had revenue of $801.30 million for the quarter, compared to the consensus estimate of $812.34 million. During the same period in the previous year, the business earned $0.62 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis.

Several research analysts recently weighed in on PSMT shares. ValuEngine downgraded PriceSmart from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a research note on Tuesday, October 29th. Finally, BidaskClub upgraded PriceSmart from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $64.85.

PriceSmart Company 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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