Black Creek Investment Management Inc. Has $127.08 Million Stock Position in PriceSmart, Inc. (NASDAQ:PSMT)

Black Creek Investment Management Inc. reduced its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,565,072 shares of the company’s stock after selling 103,141 shares during the period. PriceSmart accounts for approximately 4.7% of Black Creek Investment Management Inc.’s holdings, making the stock its 10th biggest position. Black Creek Investment Management Inc. owned approximately 5.11% of PriceSmart worth $127,084,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of PriceSmart in the 2nd quarter worth $28,000. GAMMA Investing LLC lifted its holdings in PriceSmart by 76.4% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 181 shares during the last quarter. Covestor Ltd lifted its holdings in PriceSmart by 237.4% in the 1st quarter. Covestor Ltd now owns 442 shares of the company’s stock valued at $38,000 after acquiring an additional 311 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of PriceSmart during the 2nd quarter valued at about $40,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of PriceSmart in the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Performance

Shares of PSMT opened at $89.76 on Monday. The company has a 50-day moving average of $86.08 and a two-hundred day moving average of $83.58. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 21.79 and a beta of 0.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. PriceSmart, Inc. has a one year low of $61.82 and a one year high of $92.76.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Insider Activity at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 670 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $89.05, for a total transaction of $59,663.50. Following the completion of the sale, the executive vice president now directly owns 79,470 shares in the company, valued at approximately $7,076,803.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Francisco Velasco sold 670 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $89.05, for a total transaction of $59,663.50. Following the transaction, the executive vice president now directly owns 79,470 shares in the company, valued at approximately $7,076,803.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.51, for a total value of $350,040.00. Following the sale, the chief financial officer now directly owns 67,474 shares of the company’s stock, valued at approximately $5,904,649.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,904 shares of company stock valued at $1,806,714. Company insiders own 18.60% of the company’s stock.

PriceSmart Company 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.