PriceSmart, Inc. $PSMT Shares Purchased by Progeny 3 Inc.

Progeny 3 Inc. raised its position in PriceSmart, Inc. (NASDAQ:PSMT) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,100 shares of the company’s stock after purchasing an additional 42,500 shares during the quarter. PriceSmart accounts for approximately 2.2% of Progeny 3 Inc.’s portfolio, making the stock its 19th largest position. Progeny 3 Inc.’s holdings in PriceSmart were worth $40,951,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co acquired a new position in PriceSmart during the 4th quarter worth about $32,000. Geneos Wealth Management Inc. boosted its holdings in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 252 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in PriceSmart by 45,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after acquiring an additional 456 shares during the period. Finally, Osaic Holdings Inc. grew 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. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PriceSmart news, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the sale, the director directly owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gordon H. Hanson sold 635 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director directly owned 8,149 shares in the company, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,032 shares of company stock worth $660,982. Insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $186.24 on Monday. The business’s fifty day moving average price is $181.61 and its 200 day moving average price is $161.31. The firm has a market capitalization of $5.75 billion, a PE ratio of 35.75 and a beta of 0.76. PriceSmart, Inc. has a 12 month low of $104.65 and a 12 month 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.

PriceSmart (NASDAQ:PSMT) last posted its earnings results 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis.

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.