PriceSmart (NASDAQ:PSMT) Releases Quarterly Earnings Results

PriceSmart (NASDAQ:PSMT) released its earnings results on Wednesday. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07, Briefing.com reports. PriceSmart had a return on equity of 11.89% and a net margin of 2.60%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.

PriceSmart Trading Up 2.5 %

Shares of PSMT stock opened at $80.23 on Friday. PriceSmart has a 1-year low of $61.82 and a 1-year high of $87.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. The business’s fifty day moving average price is $82.25 and its 200 day moving average price is $80.56. The firm has a market capitalization of $2.46 billion, a PE ratio of 19.47 and a beta of 0.85.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSMT. Jefferies Financial Group boosted their price objective on shares of PriceSmart from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. StockNews.com lowered shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling at PriceSmart

In other news, Director Sherry S. Bahrambeygui sold 5,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.08, for a total value of $430,400.00. Following the completion of the transaction, the director now owns 70,716 shares in the company, valued at approximately $6,087,233.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sherry S. Bahrambeygui sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.08, for a total value of $430,400.00. Following the sale, the director now owns 70,716 shares in the company, valued at approximately $6,087,233.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 522 shares of PriceSmart stock in a transaction on Monday, May 13th. The stock was sold at an average price of $85.71, for a total value of $44,740.62. Following the transaction, the director now directly owns 81,216 shares of the company’s stock, valued at $6,961,023.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,125 shares of company stock valued at $2,175,282. 18.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On PriceSmart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of PriceSmart by 76.4% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 181 shares in the last quarter. Covestor Ltd increased its position in PriceSmart by 237.4% during the first quarter. Covestor Ltd now owns 442 shares of the company’s stock worth $38,000 after buying an additional 311 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of PriceSmart by 30,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock worth $69,000 after acquiring an additional 909 shares during the last quarter. CWM LLC lifted its position in shares of PriceSmart by 331.4% in the fourth quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $79,000 after acquiring an additional 802 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC acquired a new stake in shares of PriceSmart during the first quarter valued at $85,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

About PriceSmart

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.