Kingsview Wealth Management LLC Makes New $3.43 Million Investment in PriceSmart, Inc. $PSMT

Kingsview Wealth Management LLC purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 27,940 shares of the company’s stock, valued at approximately $3,427,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares in the last quarter. CENTRAL TRUST Co bought a new stake in shares of PriceSmart during the 4th quarter worth about $32,000. AlphaQuest LLC raised its position in shares of PriceSmart by 127.5% during the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock worth $50,000 after buying an additional 232 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after buying an additional 179 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of PriceSmart by 124.2% during the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after buying an additional 370 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Edgar Zurcher sold 2,259 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total value of $350,529.03. Following the sale, the director directly owned 8,151 shares in the company, valued at $1,264,790.67. The trade was a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon H. Hanson sold 635 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director owned 8,149 shares in the company, valued at $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,232 shares of company stock worth $504,198 in the last ninety days. 17.00% of the stock is currently owned by corporate insiders.

PriceSmart Stock Down 0.9%

NASDAQ PSMT opened at $169.99 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company’s 50 day simple moving average is $157.01 and its 200 day simple moving average is $143.58. PriceSmart, Inc. has a 12 month low of $99.98 and a 12 month high of $171.75. The company has a market capitalization of $5.25 billion, a P/E ratio of 33.53 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.