Francisco Velasco Sells 338 Shares of PriceSmart (NASDAQ:PSMT) Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the completion of the transaction, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

PriceSmart Trading Down 0.6%

Shares of NASDAQ:PSMT traded down $1.09 during trading on Wednesday, reaching $175.61. 125,594 shares of the company traded hands, compared to its average volume of 254,916. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a 52-week low of $105.46 and a 52-week high of $199.84. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 33.71 and a beta of 0.76. The business’s fifty day moving average is $186.65 and its 200-day moving average is $166.74.

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

Analyst Ratings Changes

PSMT has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $198.00.

Hedge Funds Weigh In On PriceSmart

Several hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock valued at $1,310,000 after acquiring an additional 648 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake 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 valued at $16,069,000 after purchasing an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PriceSmart by 12.3% during 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 acquiring an additional 7,717 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in PriceSmart by 34.7% in the first quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock valued at $1,640,000 after purchasing an additional 4,806 shares during the period. 80.46% of the stock is currently owned by institutional investors.

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.