PriceSmart, Inc. $PSMT Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,950 shares of the company’s stock after selling 333 shares during the period. Rhumbline Advisers owned 0.24% of PriceSmart worth $6,496,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of PriceSmart during the 1st quarter worth about $42,000. Quarry LP purchased a new position in shares of PriceSmart during the 1st quarter worth about $49,000. Heck Capital Advisors LLC purchased a new position in shares of PriceSmart during the 4th quarter worth about $53,000. Finally, Fifth Third Bancorp lifted its holdings in shares of PriceSmart by 119.7% during the 1st quarter. Fifth Third Bancorp now owns 635 shares of the company’s stock worth $56,000 after acquiring an additional 346 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Friday, September 5th.

Insider Buying and Selling

In other news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $106.31, for a total transaction of $58,470.50. Following the sale, the executive vice president owned 77,908 shares in the company, valued at $8,282,399.48. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Mccleary sold 9,754 shares of PriceSmart stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the sale, the executive vice president owned 47,082 shares in the company, valued at $5,208,210.84. This represents a 17.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.

PriceSmart Trading Down 3.0%

Shares of PSMT stock opened at $114.58 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of 24.17 and a beta of 0.79. PriceSmart, Inc. has a 1-year low of $81.25 and a 1-year high of $120.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50. The firm’s 50-day simple moving average is $108.98 and its 200-day simple moving average is $101.17.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.