PriceSmart (NASDAQ:PSMT) EVP Sells $60,120.06 in Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of the stock in a transaction 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 sale, the executive vice president owned 75,321 shares of the company’s stock, valued at $13,397,346.27. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PriceSmart Price Performance

NASDAQ:PSMT opened at $172.87 on Friday. The business’s 50-day simple moving average is $186.27 and its two-hundred day simple moving average is $167.19. PriceSmart, Inc. has a 52 week low of $105.46 and a 52 week high of $199.84. The stock has a market cap of $5.33 billion, a PE ratio of 33.18 and a beta of 0.76. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08.

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). The business 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%.The business’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS.

Hedge Funds Weigh In On PriceSmart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its stake in PriceSmart by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after acquiring an additional 73 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of PriceSmart by 14.3% during the 4th quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock valued at $72,000 after acquiring an additional 74 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of PriceSmart by 10.9% in the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock valued at $101,000 after purchasing an additional 93 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of PriceSmart by 15.1% in the fourth quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock valued at $91,000 after purchasing an additional 98 shares in the last quarter. Finally, UMB Bank n.a. increased its position in PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSMT has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $198.00 price objective on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. 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 price target of $198.00.

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.