PriceSmart, Inc. (NASDAQ:PSMT) major shareholder Philanthropies Foundatio Price sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $60.78, for a total value of $607,800.00. Following the completion of the sale, the insider now owns 4,360,837 shares of the company’s stock, valued at $265,051,672.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Philanthropies Foundatio Price also recently made the following trade(s):
- On Monday, July 1st, Philanthropies Foundatio Price sold 10,000 shares of PriceSmart stock. The shares were sold at an average price of $51.04, for a total value of $510,400.00.
Shares of PSMT opened at $61.32 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.28 and a quick ratio of 0.45. PriceSmart, Inc. has a one year low of $48.06 and a one year high of $88.65. The stock has a market capitalization of $1.90 billion, a PE ratio of 25.23 and a beta of 1.01. The stock’s 50 day moving average price is $52.69.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, July 10th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.13. PriceSmart had a return on equity of 11.19% and a net margin of 2.23%. The firm had revenue of $788.56 million during the quarter, compared to analysts’ expectations of $792.96 million. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts predict that PriceSmart, Inc. will post 2.56 EPS for the current year.
Several brokerages recently commented on PSMT. BidaskClub upgraded Acceleron Pharma from a “strong sell” rating to a “sell” rating in a research report on Friday. Scotiabank upgraded PriceSmart from a “sector perform” rating to a “sector outperform” rating and set a $61.70 price target for the company in a research report on Wednesday. Finally, Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. PriceSmart currently has an average rating of “Hold” and a consensus target price of $64.85.
Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in PriceSmart in the 4th quarter valued at $9,644,000. Stone Ridge Asset Management LLC grew its holdings in PriceSmart by 73.8% in the 4th quarter. Stone Ridge Asset Management LLC now owns 13,174 shares of the company’s stock valued at $779,000 after buying an additional 5,593 shares in the last quarter. Stifel Financial Corp grew its holdings in PriceSmart by 30.3% in the 4th quarter. Stifel Financial Corp now owns 31,337 shares of the company’s stock valued at $1,844,000 after buying an additional 7,296 shares in the last quarter. Wells Fargo & Company MN grew its holdings in PriceSmart by 20.8% in the 1st quarter. Wells Fargo & Company MN now owns 521,569 shares of the company’s stock valued at $30,710,000 after buying an additional 89,854 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new stake in PriceSmart in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 72.64% of the company’s stock.
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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