Punch & Associates Investment Management Inc. Buys New Position in PriceSmart, Inc. $PSMT

Punch & Associates Investment Management Inc. purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 171,348 shares of the company’s stock, valued at approximately $33,471,000. PriceSmart comprises 1.7% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 15th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after acquiring an additional 252 shares during the last quarter. UMB Bank n.a. raised its position in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of PriceSmart in the 4th quarter valued at approximately $32,000. Bell Investment Advisors Inc acquired a new stake in PriceSmart in the 2nd quarter worth approximately $40,000. Finally, Osaic Holdings Inc. boosted its stake in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This trade represents a 9.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were 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 of the company’s stock, valued at approximately $13,397,346.27. This trade represents a 0.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,737 shares of company stock valued at $1,506,176. 17.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on PSMT. 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 reaffirmed a “buy” rating and issued a $198.00 price target on shares of PriceSmart in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $198.00.

PriceSmart Stock Performance

Shares of NASDAQ PSMT opened at $175.42 on Thursday. The company has a 50 day simple moving average of $186.06 and a two-hundred day simple moving average of $167.93. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 33.67 and a beta of 0.76. 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 12 month low of $106.87 and a 12 month high of $199.84.

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

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.