Simplicity Wealth LLC Makes New Investment in PriceSmart, Inc. (NASDAQ:PSMT)

Simplicity Wealth LLC bought a new position in PriceSmart, Inc. (NASDAQ:PSMT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,809 shares of the company’s stock, valued at approximately $1,202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSMT. Vanguard Group Inc. grew its holdings in PriceSmart by 3.2% during the first quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock worth $287,671,000 after acquiring an additional 105,405 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of PriceSmart by 1.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,713,463 shares of the company’s stock worth $227,931,000 after purchasing an additional 30,045 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PriceSmart by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,261,945 shares of the company’s stock worth $95,631,000 after purchasing an additional 60,673 shares during the period. LSV Asset Management increased its holdings in shares of PriceSmart by 938.5% in the 1st quarter. LSV Asset Management now owns 181,971 shares of the company’s stock valued at $15,286,000 after purchasing an additional 164,449 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of PriceSmart by 1.7% in the fourth quarter. Panagora Asset Management Inc. now owns 147,344 shares of the company’s stock valued at $11,166,000 after purchasing an additional 2,407 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PSMT shares. StockNews.com lowered shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group raised their price objective on PriceSmart from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th.

Insider Buying and Selling

In other PriceSmart news, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.51, for a total transaction of $350,040.00. Following the sale, the chief financial officer now owns 67,474 shares in the company, valued at approximately $5,904,649.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other PriceSmart news, EVP David R. Price sold 2,000 shares of PriceSmart stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $87.85, for a total value of $175,700.00. Following the completion of the sale, the executive vice president now directly owns 51,768 shares of the company’s stock, valued at approximately $4,547,818.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Mccleary sold 4,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.51, for a total value of $350,040.00. Following the transaction, the chief financial officer now directly owns 67,474 shares in the company, valued at approximately $5,904,649.74. The disclosure for this sale can be found here. Insiders sold 25,756 shares of company stock worth $2,222,192 in the last ninety days. Insiders own 18.60% of the company’s stock.

PriceSmart Price Performance

Shares of PriceSmart stock traded down $0.06 on Friday, hitting $82.01. The company’s stock had a trading volume of 18,525 shares, compared to its average volume of 154,203. The company has a market capitalization of $2.51 billion, a P/E ratio of 19.92 and a beta of 0.85. PriceSmart, Inc. has a 52-week low of $61.82 and a 52-week high of $92.76. The firm has a fifty day moving average price of $83.05 and a 200-day moving average price of $82.11. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. PriceSmart had a net margin of 2.60% and a return on equity of 11.89%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 earnings per share. On average, equities research analysts expect that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

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.