Calamos Advisors LLC Makes New Investment in PriceSmart, Inc. $PSMT

Calamos Advisors LLC purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 27,675 shares of the company’s stock, valued at approximately $4,165,000.

A number of other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. UMB Bank n.a. lifted its holdings in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co purchased a new position in PriceSmart in the 4th quarter valued at approximately $32,000. Osaic Holdings Inc. grew its stake in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after acquiring an additional 179 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of PriceSmart by 45,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock worth $56,000 after acquiring an additional 456 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

PriceSmart Trading Down 3.1%

Shares of NASDAQ:PSMT opened at $188.58 on Thursday. PriceSmart, Inc. has a 52 week low of $104.11 and a 52 week high of $199.84. The company’s 50 day moving average is $177.70 and its two-hundred day moving average is $158.26. The company has a market cap of $5.82 billion, a PE ratio of 36.20 and a beta of 0.76. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In other news, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the transaction, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. The trade was a 21.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,032 shares of company stock valued at $660,982 over the last quarter. Corporate insiders own 17.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.