Managed Asset Portfolios LLC Buys 40,776 Shares of PriceSmart, Inc. $PSMT

Managed Asset Portfolios LLC boosted its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 149,653 shares of the company’s stock after acquiring an additional 40,776 shares during the period. PriceSmart accounts for about 2.0% of Managed Asset Portfolios LLC’s holdings, making the stock its 26th biggest position. Managed Asset Portfolios LLC owned about 0.49% of PriceSmart worth $15,720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSMT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of PriceSmart in the 2nd quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its stake in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after buying an additional 252 shares during the period. Ridgewood Investments LLC purchased a new position in shares of PriceSmart during the 1st quarter valued at $42,000. USA Financial Formulas bought a new position in shares of PriceSmart during the 2nd quarter worth $53,000. Finally, Quarry LP purchased a new stake in PriceSmart in the 1st quarter worth about $49,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PSMT. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PriceSmart in a report on Monday. Wall Street Zen upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

PriceSmart Stock Up 0.2%

Shares of NASDAQ PSMT opened at $116.04 on Wednesday. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.58 billion, a P/E ratio of 24.48 and a beta of 0.84. PriceSmart, Inc. has a 52 week low of $81.25 and a 52 week high of $125.48. The business has a 50-day simple moving average of $119.19 and a two-hundred day simple moving average of $111.26.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.08). PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Francisco Velasco sold 550 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $122.82, for a total value of $67,551.00. Following the transaction, the executive vice president owned 80,548 shares of the company’s stock, valued at approximately $9,892,905.36. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Paul Kovaleski sold 1,305 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $114.55, for a total value of $149,487.75. Following the completion of the sale, the executive vice president owned 43,109 shares in the company, valued at $4,938,135.95. This trade represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,460 shares of company stock worth $2,546,968. Company insiders own 17.10% of the company’s stock.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.