Norden Group LLC Makes New Investment in PriceSmart, Inc. (NASDAQ:PSMT)

Norden Group LLC acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,812 shares of the company’s stock, valued at approximately $2,420,000. Norden Group LLC owned about 0.09% of PriceSmart at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of PriceSmart by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 3,319,255 shares of the company’s stock valued at $251,533,000 after acquiring an additional 141,920 shares during the period. Dimensional Fund Advisors LP lifted its stake in PriceSmart by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,261,945 shares of the company’s stock worth $95,631,000 after purchasing an additional 60,673 shares during the last quarter. American Century Companies Inc. boosted its position in shares of PriceSmart by 114.4% during the third quarter. American Century Companies Inc. now owns 492,976 shares of the company’s stock valued at $36,692,000 after buying an additional 263,016 shares during the period. Northern Trust Corp grew its stake in shares of PriceSmart by 0.3% during the third quarter. Northern Trust Corp now owns 293,127 shares of the company’s stock valued at $21,817,000 after buying an additional 811 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of PriceSmart by 1.7% in the fourth quarter. Panagora Asset Management Inc. now owns 147,344 shares of the company’s stock worth $11,166,000 after buying an additional 2,407 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at PriceSmart

In other PriceSmart news, COO John D. Hildebrandt sold 6,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $81.92, for a total transaction of $491,520.00. Following the completion of the sale, the chief operating officer now owns 140,485 shares in the company, valued at $11,508,531.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other PriceSmart news, COO John D. Hildebrandt sold 6,000 shares of PriceSmart stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.92, for a total value of $491,520.00. Following the transaction, the chief operating officer now owns 140,485 shares in the company, valued at $11,508,531.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edgar Zurcher sold 1,075 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $79.08, for a total transaction of $85,011.00. Following the sale, the director now directly owns 8,822 shares of the company’s stock, valued at $697,643.76. The disclosure for this sale can be found here. Insiders have sold a total of 27,200 shares of company stock valued at $2,260,293 over the last ninety days. 18.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PSMT. StockNews.com upgraded PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 12th. Jefferies Financial Group upped their price target on shares of PriceSmart from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th.

PriceSmart Trading Down 0.3 %

Shares of NASDAQ PSMT opened at $79.39 on Friday. PriceSmart, Inc. has a twelve month low of $61.82 and a twelve month high of $87.99. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $82.50 and a two-hundred day simple moving average of $80.41. The firm has a market cap of $2.44 billion, a PE ratio of 19.95 and a beta of 0.85.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, April 10th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. PriceSmart had a net margin of 2.62% and a return on equity of 11.85%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts expect that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

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.