PEAK6 LLC Invests $5.13 Million in PriceSmart, Inc. $PSMT

PEAK6 LLC bought a new stake in PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,283 shares of the company’s stock, valued at approximately $5,134,000.

A number of other hedge funds also recently made changes to their positions in PSMT. BlackRock Inc. bought a new stake in shares of PriceSmart during the 2nd quarter valued at approximately $814,722,000. William Blair Investment Management LLC bought a new position in PriceSmart in the 2nd quarter valued at approximately $53,157,000. Progeny 3 Inc. acquired a new stake in PriceSmart in the third quarter valued at approximately $27,825,000. Bank of New York Mellon Corp bought a new stake in shares of PriceSmart during the second quarter worth $40,930,000. Finally, Invesco Ltd. grew its stake in shares of 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 buying an additional 194,980 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $197.38, for a total value of $690,632.62. Following the transaction, the director directly owned 32,150 shares of the company’s stock, valued at $6,345,767. The trade was a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Beatriz V. Infante sold 800 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director owned 11,210 shares in the company, valued at $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 7,737 shares of company stock worth $1,506,176 over the last ninety days. 17.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PSMT shares. Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and set a $198.00 price objective on shares of PriceSmart in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, PriceSmart has an average rating of “Buy” and a consensus target price of $198.00.

PriceSmart Stock Performance

Shares of PriceSmart stock opened at $172.87 on Monday. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 33.18 and a beta of 0.76. PriceSmart, Inc. has a twelve month low of $105.46 and a twelve month high of $199.84. The company’s fifty day moving average is $186.27 and its 200 day moving average is $167.36. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The company 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 quarterly revenue was up 12.5% compared to the same quarter last year.

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.