Kendall Capital Management Makes New Investment in PriceSmart, Inc. $PSMT

Kendall Capital Management purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the 2nd quarter, HoldingsChannel reports. The fund purchased 10,535 shares of the company’s stock, valued at approximately $2,058,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSMT. Geneos Wealth Management Inc. grew its holdings in shares of PriceSmart by 560.0% during 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 last quarter. UMB Bank n.a. raised its holdings in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in shares of PriceSmart in the 4th quarter worth about $32,000. Bell Investment Advisors Inc bought a new position in PriceSmart in the 2nd quarter valued at about $40,000. Finally, Osaic Holdings Inc. lifted its position in 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 acquiring an additional 179 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

PriceSmart Stock Up 2.0%

Shares of NASDAQ:PSMT opened at $172.87 on Friday. The firm has a fifty day moving average price of $186.27 and a two-hundred day moving average price of $167.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. PriceSmart, Inc. has a one year low of $105.46 and a one year high of $199.84. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 33.18 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, July 8th. The company reported $1.28 earnings per share 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 company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $1.14 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

PSMT has been the subject of a number of analyst reports. Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. Jefferies Financial Group reissued 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 data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $198.00.

Insider Buying and Selling

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $197.38, for a total transaction of $690,632.62. Following the transaction, the director owned 32,150 shares in the company, valued at $6,345,767. The trade was a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the transaction, the executive vice president owned 75,321 shares in the company, valued at approximately $13,397,346.27. This represents a 0.45% 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 valued at $1,506,176 over the last ninety days. 17.00% of the stock is owned by insiders.

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.