34,321 Shares in PriceSmart, Inc. $PSMT Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,321 shares of the company’s stock, valued at approximately $5,165,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Progeny 3 Inc. purchased a new stake in shares of PriceSmart in the third quarter valued at about $27,825,000. Invesco Ltd. raised its position in shares of PriceSmart by 54.7% during the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after purchasing an additional 194,980 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of PriceSmart by 821.3% during the 4th quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock worth $26,619,000 after purchasing an additional 193,446 shares during the last quarter. Millennium Management LLC lifted its stake in PriceSmart by 5,150.6% in the 3rd quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock valued at $13,929,000 after buying an additional 112,747 shares in the last quarter. Finally, E. Ohman J or Asset Management AB lifted its stake in PriceSmart by 539.9% in the 1st quarter. E. Ohman J or Asset Management AB now owns 131,990 shares of the company’s stock valued at $19,864,000 after buying an additional 111,362 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Sherry S. Bahrambeygui sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $192.29, for a total transaction of $211,519.00. Following the sale, the director owned 37,649 shares in the company, valued at approximately $7,239,526.21. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total transaction of $156,784.00. Following the completion of the sale, the director directly owned 11,210 shares of the company’s stock, valued at $2,196,935.80. The trade was a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 5,497 shares of company stock worth $965,085. Corporate insiders own 17.00% of the company’s stock.

PriceSmart Trading Up 0.8%

Shares of PSMT stock opened at $193.91 on Friday. The firm has a 50-day moving average price of $184.39 and a 200 day moving average price of $163.23. PriceSmart, Inc. has a twelve month low of $105.46 and a twelve month high of $199.84. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 37.22 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 earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $1.14 earnings per share. PriceSmart’s revenue for the quarter was up 12.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, Based on 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.