PriceSmart, Inc. (NASDAQ:PSMT) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 1,710,000 shares, an increase of 171.4% from the August 30th total of 630,000 shares. Approximately 8.6% of the shares of the stock are short sold. Based on an average trading volume of 279,300 shares, the days-to-cover ratio is presently 6.1 days.
In related news, EVP Chong Jesus Von sold 818 shares of PriceSmart stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $62.41, for a total transaction of $51,051.38. Following the transaction, the executive vice president now owns 25,883 shares in the company, valued at $1,615,358.03. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Philanthropies Foundatio Price sold 10,000 shares of PriceSmart stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $69.74, for a total value of $697,400.00. Following the transaction, the insider now owns 4,310,822 shares in the company, valued at approximately $300,636,726.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,818 shares of company stock worth $3,801,331. Company insiders own 27.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in PriceSmart during the 2nd quarter worth $26,000. Private Capital Group LLC grew its stake in PriceSmart by 142.5% during the 2nd quarter. Private Capital Group LLC now owns 308 shares of the company’s stock worth $28,000 after purchasing an additional 181 shares in the last quarter. Quantamental Technologies LLC grew its stake in PriceSmart by 39,000.0% during the 2nd quarter. Quantamental Technologies LLC now owns 1,173 shares of the company’s stock worth $60,000 after purchasing an additional 1,170 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in PriceSmart by 112.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,282 shares of the company’s stock worth $66,000 after buying an additional 679 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in PriceSmart by 10.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,103 shares of the company’s stock worth $108,000 after buying an additional 202 shares during the last quarter. 72.50% of the stock is owned by institutional investors and hedge funds.
PSMT stock opened at $67.30 on Friday. The business has a fifty day moving average of $64.15 and a two-hundred day moving average of $58.64. The company has a quick ratio of 0.45, a current ratio of 1.28 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 27.70 and a beta of 1.00. PriceSmart has a 52-week low of $48.06 and a 52-week high of $82.44.
PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, July 10th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ 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 business 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 firm posted $0.61 earnings per share. The company’s revenue was up .8% on a year-over-year basis.
A number of brokerages recently commented on PSMT. Scotiabank upgraded PriceSmart from a “sector perform” rating to a “sector outperform” rating and set a $61.70 price objective on the stock in a research report on Wednesday, July 17th. ValuEngine raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Saturday, August 24th.
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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