Francisco Velasco Sells 338 Shares of PriceSmart (NASDAQ:PSMT) Stock

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the transaction, the executive vice president directly owned 75,321 shares of the company’s stock, valued at approximately $13,397,346.27. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PriceSmart Trading Down 3.5%

Shares of PriceSmart stock opened at $169.46 on Friday. PriceSmart, Inc. has a 1 year low of $105.46 and a 1 year high of $199.84. 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 business has a 50 day moving average price of $186.45 and a 200 day moving average price of $167.15. The company has a market capitalization of $5.23 billion, a P/E ratio of 32.53 and a beta of 0.76.

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

Institutional Trading of PriceSmart

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in 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 purchasing an additional 252 shares during the period. UMB Bank n.a. raised its stake in PriceSmart by 76.0% during the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the period. CENTRAL TRUST Co purchased a new position in PriceSmart during the fourth quarter worth approximately $32,000. Bell Investment Advisors Inc acquired a new position in shares of PriceSmart in the 2nd quarter valued at $40,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after purchasing an additional 179 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSMT has been the subject of a number of recent research reports. Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. Jefferies Financial Group restated a “buy” rating and issued a $198.00 target price on shares of PriceSmart in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart presently has a consensus rating of “Buy” and a consensus target price of $198.00.

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.