Bleakley Financial Group LLC Purchases 4,810 Shares of PriceSmart, Inc. $PSMT

Bleakley Financial Group LLC raised its position in PriceSmart, Inc. (NASDAQ:PSMT) by 28.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,752 shares of the company’s stock after purchasing an additional 4,810 shares during the period. Bleakley Financial Group LLC owned 0.07% of PriceSmart worth $2,285,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSMT. Geneos Wealth Management Inc. boosted its holdings in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares during the period. Ridgewood Investments LLC bought a new stake in shares of PriceSmart during the 1st quarter worth $42,000. Quarry LP bought a new stake in shares of PriceSmart during the 1st quarter worth $49,000. USA Financial Formulas bought a new stake in shares of PriceSmart during the 2nd quarter worth $53,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of PriceSmart by 24.3% during the 1st quarter. First Horizon Advisors Inc. now owns 654 shares of the company’s stock worth $57,000 after acquiring an additional 128 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSMT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, October 8th. Wall Street Zen raised shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Insider Activity

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total value of $1,078,987.48. Following the sale, the executive vice president owned 47,082 shares in the company, valued at approximately $5,208,210.84. This represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francisco Velasco sold 550 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $122.82, for a total transaction of $67,551.00. Following the completion of the sale, the executive vice president owned 80,548 shares in the company, valued at approximately $9,892,905.36. This trade represents a 0.68% decrease in their position. The disclosure for this sale can be found here. 17.10% of the stock is owned by insiders.

PriceSmart Price Performance

Shares of NASDAQ PSMT opened at $123.15 on Friday. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year high of $125.48. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50. The company’s 50-day moving average is $116.24 and its 200 day moving average is $108.24. The stock has a market capitalization of $3.79 billion, a P/E ratio of 25.98 and a beta of 0.83.

PriceSmart Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.