Bleakley Financial Group LLC Trims Stake in PriceSmart, Inc. $PSMT

Bleakley Financial Group LLC lowered its position in PriceSmart, Inc. (NASDAQ:PSMT) by 15.2% during the 1st quarter, HoldingsChannel reports. The firm owned 18,532 shares of the company’s stock after selling 3,317 shares during the period. Bleakley Financial Group LLC’s holdings in PriceSmart were worth $2,789,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PSMT. Fifth Third Bancorp increased its position in shares of PriceSmart by 5,913.3% in the first quarter. Fifth Third Bancorp now owns 28,984 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,502 shares during the last quarter. Abel Hall LLC lifted its position in PriceSmart by 40.7% during the first quarter. Abel Hall LLC now owns 3,613 shares of the company’s stock valued at $544,000 after purchasing an additional 1,046 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in PriceSmart in the 1st quarter worth approximately $233,000. QRG Capital Management Inc. grew its stake in PriceSmart by 15.6% in the 1st quarter. QRG Capital Management Inc. now owns 4,100 shares of the company’s stock worth $617,000 after buying an additional 552 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of PriceSmart by 51.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 8,180 shares of the company’s stock worth $1,231,000 after buying an additional 2,779 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

PriceSmart Stock Down 3.1%

PSMT opened at $188.58 on Thursday. PriceSmart, Inc. has a 12 month low of $104.11 and a 12 month high of $199.84. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $177.70 and its 200-day moving average price is $158.26. The company has a market cap of $5.82 billion, a P/E ratio of 36.20 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. PriceSmart’s revenue was up 12.5% compared to the same quarter last year.

Insider Activity

In other news, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,032 shares of company stock valued at $660,982. 17.00% of the stock is currently owned by 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.