Rafferty Asset Management LLC Takes $277,000 Position in PriceSmart, Inc. (PSMT)
Rafferty Asset Management LLC acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,426 shares of the company’s stock, valued at approximately $277,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of PriceSmart by 2.8% in the 2nd quarter. Northern Trust Corp now owns 341,337 shares of the company’s stock valued at $30,891,000 after buying an additional 9,283 shares in the last quarter. First Hawaiian Bank acquired a new position in PriceSmart in the 3rd quarter worth $380,000. Zebra Capital Management LLC acquired a new position in PriceSmart in the 2nd quarter worth $458,000. Thornburg Investment Management Inc. boosted its stake in PriceSmart by 2.8% in the 3rd quarter. Thornburg Investment Management Inc. now owns 158,513 shares of the company’s stock worth $12,832,000 after purchasing an additional 4,250 shares during the period. Finally, Peak Capital Management LLC acquired a new position in PriceSmart in the 2nd quarter worth $1,095,000. Institutional investors and hedge funds own 76.46% of the company’s stock.
In other news, Director Robert E. Price sold 10,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $79.94, for a total transaction of $799,400.00. Following the completion of the transaction, the director now directly owns 80 shares in the company, valued at approximately $6,395.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jose Luis Laparte sold 15,995 shares of the stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $64.94, for a total transaction of $1,038,715.30. Following the transaction, the chief executive officer now owns 171,059 shares of the company’s stock, valued at $11,108,571.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,053 shares of company stock valued at $6,317,508. Company insiders own 28.00% of the company’s stock.
Shares of NASDAQ PSMT opened at $64.17 on Thursday. The firm has a market capitalization of $1.95 billion, a P/E ratio of 26.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.48. PriceSmart, Inc. has a 1-year low of $63.73 and a 1-year high of $94.45.
PriceSmart (NASDAQ:PSMT) last announced its earnings results on Thursday, October 25th. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $777.87 million during the quarter, compared to analyst estimates of $776.30 million. PriceSmart had a net margin of 2.35% and a return on equity of 12.07%. Sell-side analysts expect that PriceSmart, Inc. will post 2.7 earnings per share for the current year.
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PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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