PriceSmart, Inc. (NASDAQ:PSMT) CFO Sells $358,480.00 in Stock

PriceSmart, Inc. (NASDAQ:PSMT) CFO Michael Mccleary sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total value of $358,480.00. Following the transaction, the chief financial officer now directly owns 62,141 shares in the company, valued at approximately $5,569,076.42. This represents a 6.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PriceSmart Stock Down 1.0 %

Shares of PriceSmart stock opened at $87.21 on Friday. PriceSmart, Inc. has a one year low of $66.79 and a one year high of $94.82. The company has a market cap of $2.68 billion, a P/E ratio of 19.08 and a beta of 0.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.45 and a current ratio of 1.22. The firm has a fifty day moving average of $89.89 and a two-hundred day moving average of $86.20.

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

Institutional Trading of PriceSmart

Several hedge funds have recently modified their holdings of PSMT. Jupiter Asset Management Ltd. purchased a new position in PriceSmart in the first quarter worth $2,673,000. Simplicity Wealth LLC acquired a new stake in shares of PriceSmart in the second quarter valued at about $1,202,000. Tidal Investments LLC purchased a new stake in PriceSmart during the first quarter worth about $780,000. Acadian Asset Management LLC grew 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 worth $5,183,000 after buying an additional 10,673 shares during the period. Finally, Vanguard Group Inc. increased its holdings in PriceSmart by 3.2% in the first quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock valued at $287,671,000 after buying an additional 105,405 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.