PriceSmart (NASDAQ:PSMT) EVP Francisco Velasco Sells 338 Shares of Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of the company’s 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 owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PriceSmart Stock Up 2.3%

NASDAQ:PSMT opened at $162.90 on Tuesday. The firm’s 50 day simple moving average is $153.52 and its 200 day simple moving average is $140.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. PriceSmart, Inc. has a one year low of $99.98 and a one year high of $165.46. The company has a market cap of $5.03 billion, a PE ratio of 32.13 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. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart presently has an average rating of “Buy”.

Hedge Funds Weigh In On PriceSmart

A number of hedge funds have recently bought and sold shares of the company. Amundi purchased a new position in PriceSmart during the 1st quarter worth $458,000. EverSource Wealth Advisors LLC boosted its holdings in PriceSmart by 22.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 651 shares of the company’s stock worth $98,000 after acquiring an additional 120 shares during the last quarter. California State Teachers Retirement System boosted its holdings in PriceSmart by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 30,720 shares of the company’s stock worth $4,623,000 after acquiring an additional 5,680 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of PriceSmart in the 1st quarter worth about $5,165,000. Finally, The Manufacturers Life Insurance Company grew its position in PriceSmart by 2.8% during the first quarter. The Manufacturers Life Insurance Company now owns 12,241 shares of the company’s stock valued at $1,842,000 after buying an additional 328 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.