Mirabella Financial Services LLP Takes Position in PriceSmart, Inc. $PSMT

Mirabella Financial Services LLP bought a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 28,583 shares of the company’s stock, valued at approximately $3,464,000. Mirabella Financial Services LLP owned approximately 0.09% of PriceSmart as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Corp purchased a new position in PriceSmart in the third quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its position in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of PriceSmart during the 3rd quarter worth approximately $39,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of PriceSmart by 52.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of PriceSmart by 127.5% in the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock valued at $50,000 after buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Trading Down 5.6%

PSMT opened at $141.40 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $158.01. The business’s 50 day moving average is $147.66 and its two-hundred day moving average is $130.02. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 28.86 and a beta of 0.73.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. On average, research analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 17th. This represents a yield of 89.0%. PriceSmart’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

PSMT has been the topic of several research analyst reports. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Weiss Ratings upgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at PriceSmart

In other news, Director Beatriz V. Infante sold 1,995 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $136.87, for a total transaction of $273,055.65. Following the completion of the sale, the director owned 10,879 shares in the company, valued at approximately $1,489,008.73. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leon C. Janks sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $137.29, for a total value of $411,870.00. Following the transaction, the director directly owned 30,734 shares in the company, valued at approximately $4,219,470.86. This represents a 8.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,671 shares of company stock worth $2,283,051 in the last quarter. 17.00% of the stock is currently owned by company insiders.

PriceSmart Company Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.