3,401 Shares in PriceSmart, Inc. (NASDAQ:PSMT) Bought by Verition Fund Management LLC

Verition Fund Management LLC acquired a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,401 shares of the company’s stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in shares of PriceSmart by 20.4% in the second quarter. American Century Companies Inc. now owns 1,085,897 shares of the company’s stock worth $88,175,000 after buying an additional 184,252 shares during the period. Copeland Capital Management LLC raised its position in shares of PriceSmart by 18.7% in the 3rd quarter. Copeland Capital Management LLC now owns 481,182 shares of the company’s stock worth $44,163,000 after acquiring an additional 75,896 shares in the last quarter. FMR LLC lifted its stake in shares of PriceSmart by 5.9% during the 3rd quarter. FMR LLC now owns 1,182,739 shares of the company’s stock worth $108,552,000 after purchasing an additional 65,492 shares during the last quarter. LSV Asset Management boosted its position in PriceSmart by 28.9% during the second quarter. LSV Asset Management now owns 234,571 shares of the company’s stock valued at $19,047,000 after purchasing an additional 52,600 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in PriceSmart by 179.1% in the second quarter. AQR Capital Management LLC now owns 57,052 shares of the company’s stock worth $4,633,000 after purchasing an additional 36,614 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Stock Performance

Shares of PSMT stock opened at $93.93 on Friday. PriceSmart, Inc. has a 12-month low of $72.14 and a 12-month high of $99.23. The business’s fifty day simple moving average is $90.72 and its 200-day simple moving average is $87.11. The company has a current ratio of 1.22, a quick ratio of 0.45 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.88 billion, a PE ratio of 20.55 and a beta of 0.86.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

Insider Activity at PriceSmart

In other news, EVP Francisco Velasco sold 827 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $91.03, for a total value of $75,281.81. Following the completion of the transaction, the executive vice president now directly owns 84,385 shares in the company, valued at $7,681,566.55. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Mccleary sold 4,000 shares of PriceSmart 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 sale, the chief financial officer now directly owns 62,141 shares of the company’s stock, valued at $5,569,076.42. This trade represents a 6.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,290 shares of company stock valued at $1,476,009 in the last three months. 18.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a report on Saturday, November 30th.

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.