Sherry Bahrambeygui Sells 1,100 Shares of PriceSmart (NASDAQ:PSMT) Stock

PriceSmart, Inc. (NASDAQ:PSMT) Director Sherry Bahrambeygui sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.29, for a total value of $211,519.00. Following the completion of the sale, the director directly owned 37,649 shares of the company’s stock, valued at $7,239,526.21. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PriceSmart Trading Down 0.4%

NASDAQ PSMT traded down $0.74 during trading on Thursday, hitting $191.82. The stock had a trading volume of 24,182 shares, compared to its average volume of 253,351. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The stock has a 50 day simple moving average of $183.25 and a 200 day simple moving average of $162.61. PriceSmart, Inc. has a one year low of $105.46 and a one year high of $199.84. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 36.78 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04). PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut 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, According to MarketBeat, the company presently has an average rating of “Buy”.

Institutional Trading of PriceSmart

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Progeny 3 Inc. acquired a new position in PriceSmart during the third quarter valued at $27,825,000. Invesco Ltd. raised its position in PriceSmart by 54.7% during the second quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after acquiring an additional 194,980 shares during the period. Fisher Asset Management LLC boosted its holdings in PriceSmart by 821.3% in the 4th quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock worth $26,619,000 after buying an additional 193,446 shares during the last quarter. Millennium Management LLC increased its position in shares of PriceSmart by 5,150.6% during the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after purchasing an additional 112,747 shares in the last quarter. Finally, E. Ohman J or Asset Management AB raised its position in shares of PriceSmart by 539.9% in the first quarter. E. Ohman J or Asset Management AB now owns 131,990 shares of the company’s stock valued at $19,864,000 after buying an additional 111,362 shares during the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.