Two Sigma Securities LLC Makes New $783,000 Investment in PriceSmart, Inc. $PSMT

Two Sigma Securities LLC purchased a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, Holdings Channel.com reports. The firm purchased 4,007 shares of the company’s stock, valued at approximately $783,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PriceSmart by 46.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 343 shares of the company’s stock worth $67,000 after buying an additional 109 shares during the period. Wellington Management Group LLP acquired a new position in shares of PriceSmart in the 2nd quarter valued at $15,197,000. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of PriceSmart in the 2nd quarter valued at $14,250,000. Empowered Funds LLC purchased a new position in PriceSmart in the 2nd quarter worth $6,926,000. Finally, Jefferies Financial Group Inc. purchased a new position in PriceSmart in the 2nd quarter worth $294,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity

In related news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total value of $60,120.06. Following the completion of the transaction, the executive vice president owned 75,321 shares in the company, valued at $13,397,346.27. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the 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 owned 32,150 shares in the company, valued at $6,345,767. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,737 shares of company stock worth $1,506,176 in the last ninety days. Company insiders own 17.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSMT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of PriceSmart in a research note on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and issued a $198.00 price objective on shares of PriceSmart in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart currently has an average rating of “Buy” and an average target price of $198.00.

PriceSmart Price Performance

NASDAQ:PSMT opened at $172.05 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The company has a 50 day moving average price of $185.09 and a 200-day moving average price of $168.36. PriceSmart, Inc. has a 1-year low of $106.87 and a 1-year high of $199.84. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 33.02 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last released its quarterly 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 net margin of 2.82% and a return on equity of 12.16%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year.

PriceSmart 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.