Louisiana State Employees Retirement System Invests $1.69 Million in PriceSmart, Inc. $PSMT

Louisiana State Employees Retirement System purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,200 shares of the company’s stock, valued at approximately $1,686,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. grew its holdings in PriceSmart by 124.2% during the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after acquiring an additional 370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PriceSmart by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock worth $1,310,000 after purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of PriceSmart by 41.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock worth $16,069,000 after purchasing an additional 53,874 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PriceSmart by 12.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock worth $6,206,000 after purchasing an additional 7,717 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of PriceSmart by 34.7% during the first quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock worth $1,640,000 after purchasing an additional 4,806 shares during the period. 80.46% of the stock is owned by institutional investors.

PriceSmart Trading Down 0.0%

PSMT opened at $195.29 on Thursday. The firm’s fifty day moving average is $170.70 and its two-hundred day moving average is $153.53. The firm has a market cap of $6.03 billion, a PE ratio of 38.52 and a beta of 0.75. PriceSmart, Inc. has a twelve month low of $101.30 and a twelve month high of $199.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29.

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

Insider Buying and Selling at PriceSmart

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the sale, the director directly owned 8,151 shares in the company, valued at $1,264,790.67. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of the business’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 completion of the transaction, the director owned 8,149 shares of the company’s stock, valued at $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,232 shares of company stock valued at $504,198. Company insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.