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

PriceSmart, Inc. (NASDAQ:PSMT) EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PriceSmart Stock Down 0.8%

Shares of PriceSmart stock opened at $161.57 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $153.85 and its two-hundred day simple moving average is $140.97. The company has a market cap of $4.99 billion, a P/E ratio of 31.87 and a beta of 0.77. PriceSmart, Inc. has a 12-month low of $99.98 and a 12-month high of $165.75.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.57 by $0.05. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.45 EPS.

Institutional Trading of PriceSmart

A number of hedge funds have recently made changes to their positions in PSMT. Progeny 3 Inc. purchased a new stake in shares of PriceSmart in the 3rd quarter worth approximately $27,825,000. Invesco Ltd. raised its stake in PriceSmart by 54.7% during the second quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock valued at $57,936,000 after buying an additional 194,980 shares during the last quarter. Fisher Asset Management LLC raised its stake in PriceSmart by 821.3% during the fourth quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after buying an additional 193,446 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in PriceSmart by 37.0% in the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock worth $78,955,000 after acquiring an additional 175,806 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in PriceSmart by 5,150.6% in the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after acquiring an additional 112,747 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

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.