Daiwa Securities Group Inc. Sells 800 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Daiwa Securities Group Inc. lessened its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 9.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,579 shares of the company’s stock after selling 800 shares during the period. Daiwa Securities Group Inc.’s holdings in PriceSmart were worth $696,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC acquired a new position in shares of PriceSmart during the second quarter valued at about $1,202,000. Managed Asset Portfolios LLC increased its position in PriceSmart by 16.5% in the 3rd quarter. Managed Asset Portfolios LLC now owns 81,635 shares of the company’s stock valued at $7,493,000 after buying an additional 11,546 shares in the last quarter. Tidal Investments LLC bought a new position in PriceSmart in the first quarter worth approximately $780,000. Acadian Asset Management LLC grew its stake in PriceSmart by 20.0% in the second quarter. Acadian Asset Management LLC now owns 63,940 shares of the company’s stock valued at $5,183,000 after acquiring an additional 10,673 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in PriceSmart by 46.7% in the second quarter. Envestnet Asset Management Inc. now owns 96,088 shares of the company’s stock valued at $7,802,000 after acquiring an additional 30,581 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Stock Down 0.2 %

Shares of NASDAQ PSMT opened at $89.74 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 0.45. The company has a 50-day moving average price of $90.13 and a 200-day moving average price of $86.56. The stock has a market capitalization of $2.75 billion, a P/E ratio of 19.64 and a beta of 0.85. PriceSmart, Inc. has a 1 year low of $66.95 and a 1 year high of $94.82.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results 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). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. PriceSmart’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. On average, equities research analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Insider Activity at PriceSmart

In related news, CFO Michael Mccleary sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $89.62, for a total transaction of $358,480.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David R. Price sold 2,750 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total transaction of $253,660.00. Following the completion of the sale, the executive vice president now directly owns 48,844 shares of the company’s stock, valued at $4,505,370.56. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,290 shares of company stock valued at $1,476,009 over the last 90 days. Insiders own 18.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised PriceSmart from a “hold” rating to a “buy” rating in a research report on Saturday.

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.