Carmel Capital Partners LLC Sells 2,000 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Carmel Capital Partners LLC cut its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 28.6% in the third quarter, Holdings Channel reports. The institutional investor owned 5,000 shares of the company’s stock after selling 2,000 shares during the period. Carmel Capital Partners LLC’s holdings in PriceSmart were worth $459,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jupiter Asset Management Ltd. bought a new position in shares of PriceSmart during the first quarter worth about $2,673,000. Simplicity Wealth LLC bought a new position in shares of PriceSmart during the second quarter worth about $1,202,000. LSV Asset Management grew its holdings in shares of PriceSmart by 938.5% during the first quarter. LSV Asset Management now owns 181,971 shares of the company’s stock worth $15,286,000 after buying an additional 164,449 shares in the last quarter. Tidal Investments LLC bought a new position in shares of PriceSmart during the first quarter worth about $780,000. Finally, Acadian Asset Management LLC boosted its position in PriceSmart by 20.0% during the second quarter. Acadian Asset Management LLC now owns 63,940 shares of the company’s stock valued at $5,183,000 after purchasing an additional 10,673 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors.

Insider Transactions at PriceSmart

In other news, EVP Francisco Velasco sold 670 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $89.05, for a total transaction of $59,663.50. Following the transaction, the executive vice president now owns 79,470 shares in the company, valued at approximately $7,076,803.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Francisco Velasco sold 670 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $89.05, for a total transaction of $59,663.50. Following the transaction, the executive vice president now owns 79,470 shares in the company, valued at approximately $7,076,803.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Fisher sold 5,478 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $90.83, for a total value of $497,566.74. Following the transaction, the director now owns 21,646 shares in the company, valued at approximately $1,966,106.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,725 shares of company stock worth $886,172. Company insiders own 18.60% of the company’s stock.

PriceSmart Stock Performance

PSMT opened at $90.19 on Friday. PriceSmart, Inc. has a 12-month low of $64.94 and a 12-month high of $94.82. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 19.74 and a beta of 0.85. The business has a 50 day moving average of $89.81 and a 200-day moving average of $85.89. The company has a quick ratio of 0.45, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut PriceSmart from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st.

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.