PDT Partners LLC Acquires Shares of 33,000 PriceSmart, Inc. (PSMT)
PDT Partners LLC acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,000 shares of the company’s stock, valued at approximately $2,891,000. PDT Partners LLC owned 0.11% of PriceSmart as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in PriceSmart by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after purchasing an additional 39 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of PriceSmart by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,857 shares of the company’s stock worth $263,000 after buying an additional 81 shares in the last quarter. First Midwest Bank Trust Division raised its stake in shares of PriceSmart by 2.3% during the 2nd quarter. First Midwest Bank Trust Division now owns 8,694 shares of the company’s stock worth $762,000 after buying an additional 199 shares in the last quarter. Citigroup Inc. raised its stake in shares of PriceSmart by 18.5% during the 2nd quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock worth $124,000 after buying an additional 220 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of PriceSmart by 8.0% during the 2nd quarter. Prudential Financial Inc. now owns 3,632 shares of the company’s stock worth $318,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 71.98% of the company’s stock.
Shares of PriceSmart, Inc. (NASDAQ:PSMT) opened at 89.40 on Tuesday. PriceSmart, Inc. has a 52 week low of $78.00 and a 52 week high of $94.40. The firm has a market cap of $2.69 billion, a PE ratio of 29.23 and a beta of 1.26. The company has a 50 day moving average of $84.30 and a 200 day moving average of $86.35.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The business had revenue of $730.30 million for the quarter, compared to analyst estimates of $734.80 million. PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. PriceSmart’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. On average, equities research analysts anticipate that PriceSmart, Inc. will post $3.07 EPS for the current fiscal year.
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Several research firms have recently commented on PSMT. BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. TheStreet lowered PriceSmart from a “b” rating to a “c+” rating in a report on Thursday, July 13th. Zacks Investment Research lowered PriceSmart from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Ifs Securities assumed coverage on PriceSmart in a research report on Monday, September 25th. They issued a “market perform” rating and a $85.00 price objective for the company. Finally, Roth Capital set a $102.00 price objective on PriceSmart and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $96.67.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the transaction, the director now owns 125,374 shares in the company, valued at approximately $10,641,745.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.00% of the company’s stock.
PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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