PriceSmart, Inc. $PSMT Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 46.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,893 shares of the company’s stock after selling 5,941 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in PriceSmart were worth $1,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its holdings in PriceSmart by 2.4% in the second quarter. State Street Corp now owns 1,045,998 shares of the company’s stock valued at $109,872,000 after acquiring an additional 24,512 shares during the period. Geode Capital Management LLC boosted its position in shares of PriceSmart by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 763,261 shares of the company’s stock worth $93,640,000 after purchasing an additional 7,095 shares in the last quarter. Invesco Ltd. grew its stake in shares of PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock worth $75,742,000 after purchasing an additional 73,419 shares during the period. Morgan Stanley grew its stake in shares of PriceSmart by 1.7% during the 4th quarter. Morgan Stanley now owns 495,799 shares of the company’s stock worth $60,820,000 after purchasing an additional 8,428 shares during the period. Finally, Pertento Partners LLP increased its holdings in shares of PriceSmart by 17.3% in the 4th quarter. Pertento Partners LLP now owns 488,387 shares of the company’s stock valued at $59,910,000 after purchasing an additional 71,879 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $177.05 on Monday. The company has a current ratio of 1.28, a quick ratio of 0.53 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $5.46 billion, a P/E ratio of 33.98 and a beta of 0.76. The firm has a 50-day moving average price of $186.17 and a two-hundred day moving average price of $165.05. PriceSmart, Inc. has a twelve month low of $105.46 and a twelve month high of $199.84.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Beatriz V. Infante sold 800 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the sale, the director owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the sale, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This trade represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,737 shares of company stock worth $1,499,649 in the last ninety days. Insiders own 17.00% of the company’s stock.

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.