Insider Selling: PriceSmart (NASDAQ:PSMT) EVP Sells $53,593.28 in Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares in the company, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PriceSmart Price Performance

PriceSmart stock opened at $165.98 on Thursday. PriceSmart, Inc. has a 52 week low of $99.98 and a 52 week high of $166.24. The company’s 50 day moving average price is $154.19 and its two-hundred day moving average price is $141.28. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.13 billion, a P/E ratio of 32.74 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping 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 firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $1.45 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.

Institutional Investors Weigh In On PriceSmart

Hedge funds have recently modified their holdings of the stock. Progeny 3 Inc. bought a new stake in PriceSmart during the 3rd quarter valued at $27,825,000. Invesco Ltd. raised its holdings in PriceSmart by 54.7% during the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock valued at $57,936,000 after acquiring an additional 194,980 shares during the period. Fisher Asset Management LLC raised its holdings in PriceSmart by 821.3% during the 4th quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after acquiring an additional 193,446 shares during the period. Victory Capital Management Inc. raised its holdings in PriceSmart by 37.0% during the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after acquiring an additional 175,806 shares during the period. Finally, Millennium Management LLC raised its holdings in PriceSmart by 5,150.6% during the 3rd quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock valued at $13,929,000 after acquiring an additional 112,747 shares during the period. Institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.