Legal & General Group Plc purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 60,704 shares of the company’s stock, valued at approximately $11,858,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PSMT. Geneos Wealth Management Inc. grew its stake in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares in the last quarter. UMB Bank n.a. increased its holdings in PriceSmart by 76.0% during the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the last quarter. CENTRAL TRUST Co bought a new stake in PriceSmart during the fourth quarter worth $32,000. Bell Investment Advisors Inc bought a new stake in PriceSmart during the second quarter worth $40,000. Finally, Osaic Holdings Inc. raised its position in PriceSmart by 57.2% during the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after acquiring an additional 179 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on PSMT. Weiss Ratings reissued a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $198.00 target price on shares of PriceSmart in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $198.00.
PriceSmart Stock Performance
Shares of NASDAQ PSMT opened at $170.01 on Tuesday. 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. The stock has a 50 day moving average of $185.36 and a 200-day moving average of $168.24. The company has a market capitalization of $5.25 billion, a P/E ratio of 32.63 and a beta of 0.76.
PriceSmart (NASDAQ:PSMT – Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year.
Insiders Place Their Bets
In other news, EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $177.87, for a total transaction of $60,120.06. Following the completion of the sale, the executive vice president owned 75,321 shares in the company, valued at approximately $13,397,346.27. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $195.98, for a total transaction of $156,784.00. Following the sale, the director directly owned 11,210 shares of the company’s stock, valued at $2,196,935.80. The trade was a 6.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,737 shares of company stock valued at $1,506,176 over the last ninety days. 17.00% of the stock is currently owned by company insiders.
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.
Read More
- Five stocks we like better than PriceSmart
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding PSMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PriceSmart, Inc. (NASDAQ:PSMT – Free Report).
Receive News & Ratings for PriceSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PriceSmart and related companies with MarketBeat.com's FREE daily email newsletter.
