First Trust Advisors LP trimmed its position in PriceSmart, Inc. (NASDAQ:PSMT – Free Report) by 2.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 752,615 shares of the company’s stock after selling 19,981 shares during the period. First Trust Advisors LP’s holdings in PriceSmart were worth $113,269,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its holdings in shares of PriceSmart by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after purchasing an additional 73 shares during the period. Parallel Advisors LLC raised its holdings in shares of PriceSmart by 14.3% in 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 in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of PriceSmart by 10.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock valued at $101,000 after acquiring an additional 93 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of PriceSmart by 15.1% during the 4th quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock valued at $91,000 after acquiring an additional 98 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of 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. Hedge funds and other institutional investors own 80.46% of the company’s stock.
Insider Activity
In other news, 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 value of $53,593.28. Following the sale, the executive vice president directly owned 75,659 shares in the company, valued at approximately $11,996,491.04. This trade represents a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the sale, the director owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,032 shares of company stock valued at $660,982. Company insiders own 17.00% of the company’s stock.
PriceSmart Stock Performance
PriceSmart (NASDAQ:PSMT – Get Free Report) last issued its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 earnings per share.
Analyst Ratings Changes
Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, PriceSmart has an average rating of “Buy”.
Check Out Our Latest Analysis on PSMT
PriceSmart Company Profile
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.
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