PriceSmart (NASDAQ:PSMT) Posts Quarterly Earnings Results

PriceSmart (NASDAQ:PSMT) released its earnings results on Wednesday. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07, Briefing.com reports. The business 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 firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share.

PriceSmart Stock Up 2.5 %

PriceSmart stock opened at $80.23 on Friday. The firm’s 50 day moving average price is $82.25 and its two-hundred day moving average price is $80.56. The firm has a market cap of $2.46 billion, a PE ratio of 19.47 and a beta of 0.85. PriceSmart has a twelve month low of $61.82 and a twelve month high of $87.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.49 and a current ratio of 1.20.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of PriceSmart from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. StockNews.com downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Insider Activity

In related news, Director Sherry S. Bahrambeygui sold 5,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $86.08, for a total transaction of $430,400.00. Following the completion of the sale, the director now directly owns 70,716 shares in the company, valued at $6,087,233.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Gordon H. Hanson sold 937 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the completion of the sale, the director now directly owns 7,969 shares in the company, valued at $636,404.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sherry S. Bahrambeygui sold 5,000 shares of the firm’s 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 transaction, the director now owns 70,716 shares in the company, valued at $6,087,233.28. The disclosure for this sale can be found here. Insiders have sold a total of 26,125 shares of company stock worth $2,175,282 in the last ninety days. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of PriceSmart

A number of institutional investors and hedge funds have recently modified their holdings of PSMT. GAMMA Investing LLC raised its holdings in PriceSmart by 76.4% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock worth $34,000 after acquiring an additional 181 shares during the period. Covestor Ltd lifted its position in shares of PriceSmart by 237.4% during the 1st quarter. Covestor Ltd now owns 442 shares of the company’s stock worth $38,000 after purchasing an additional 311 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in PriceSmart by 30,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock valued at $69,000 after buying an additional 909 shares during the last quarter. CWM LLC increased its position in PriceSmart by 331.4% in the 4th quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $79,000 after buying an additional 802 shares during the period. Finally, SYSTM Wealth Solutions LLC bought a new position in shares of PriceSmart during the 1st quarter worth about $85,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.