PriceSmart (NASDAQ:PSMT) Upgraded at StockNews.com

StockNews.com upgraded shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a buy rating in a research report report published on Friday morning.

PriceSmart Price Performance

Shares of PSMT opened at $90.97 on Friday. The company has a quick ratio of 0.43, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. PriceSmart has a twelve month low of $74.74 and a twelve month high of $99.23. The stock has a market capitalization of $2.79 billion, a P/E ratio of 20.04 and a beta of 0.86. The company has a 50 day moving average of $91.75 and a 200-day moving average of $89.67.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, January 8th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.22). PriceSmart had a net margin of 2.76% and a return on equity of 12.29%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that PriceSmart will post 5.28 EPS for the current fiscal year.

Insider Activity at PriceSmart

In related news, Director Gordon H. Hanson sold 1,107 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $87.22, for a total value of $96,552.54. Following the completion of the sale, the director now directly owns 6,862 shares in the company, valued at approximately $598,503.64. This trade represents a 13.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David R. Price sold 2,750 shares of PriceSmart stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total value of $253,660.00. Following the transaction, the executive vice president now owns 48,844 shares of the company’s stock, valued at $4,505,370.56. The trade was a 5.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,725 shares of company stock valued at $2,685,625. Insiders own 17.10% of the company’s stock.

Institutional Trading of PriceSmart

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its stake in PriceSmart by 39.6% in the 2nd quarter. Sei Investments Co. now owns 30,423 shares of the company’s stock valued at $2,470,000 after acquiring an additional 8,633 shares during the period. Marshall Wace LLP raised its position in shares of PriceSmart by 94.2% in the second quarter. Marshall Wace LLP now owns 8,385 shares of the company’s stock valued at $681,000 after purchasing an additional 4,067 shares during the period. AQR Capital Management LLC raised its position in shares of PriceSmart by 179.1% in the second quarter. AQR Capital Management LLC now owns 57,052 shares of the company’s stock valued at $4,633,000 after purchasing an additional 36,614 shares during the period. Millennium Management LLC lifted its stake in shares of PriceSmart by 10.8% during the 2nd quarter. Millennium Management LLC now owns 84,846 shares of the company’s stock worth $6,889,000 after buying an additional 8,266 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of PriceSmart by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,600 shares of the company’s stock worth $1,104,000 after buying an additional 365 shares during the period. 80.46% of the stock is owned by institutional investors and hedge funds.

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.