Horizon Investments LLC Takes $603,000 Position in PriceSmart, Inc. $PSMT

Horizon Investments LLC bought a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,917 shares of the company’s stock, valued at approximately $603,000.

Several other institutional investors also recently modified their holdings of PSMT. Geneos Wealth Management Inc. grew its holdings in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 252 shares in the last quarter. First Horizon Corp bought a new position in PriceSmart during the third quarter valued at $30,000. AlphaQuest LLC grew its holdings in PriceSmart by 127.5% during the third quarter. AlphaQuest LLC now owns 414 shares of the company’s stock valued at $50,000 after purchasing an additional 232 shares during the period. Osaic Holdings Inc. grew its holdings in PriceSmart by 57.2% during the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after purchasing an additional 179 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in PriceSmart by 124.2% during the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock valued at $59,000 after purchasing an additional 370 shares during the period. 80.46% of the stock is owned by institutional investors.

Insider Transactions at PriceSmart

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total transaction of $350,529.03. Following the sale, the director owned 8,151 shares in the company, valued at $1,264,790.67. This trade represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director owned 8,149 shares in the company, valued at $1,284,282.40. The trade was a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

PSMT has been the subject of several research reports. Wall Street Zen lowered PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Weiss Ratings upgraded PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

PriceSmart Trading Up 1.1%

NASDAQ PSMT opened at $158.26 on Friday. The stock’s 50-day simple moving average is $152.74 and its two-hundred day simple moving average is $138.90. PriceSmart, Inc. has a twelve month low of $99.58 and a twelve month high of $165.46. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of 31.22 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the business posted $1.45 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis.

About PriceSmart

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.