Victory Capital Management Inc. Raises Stake in PriceSmart, Inc. (PSMT)
Victory Capital Management Inc. increased its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 17.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,965 shares of the company’s stock after acquiring an additional 295 shares during the quarter. Victory Capital Management Inc.’s holdings in PriceSmart were worth $172,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of PriceSmart during the first quarter valued at $135,000. Ameritas Investment Partners Inc. acquired a new position in shares of PriceSmart during the first quarter valued at $160,000. Karp Capital Management Corp acquired a new position in shares of PriceSmart during the first quarter valued at $246,000. BNP Paribas Arbitrage SA lifted its stake in shares of PriceSmart by 477.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,836 shares of the company’s stock valued at $248,000 after acquiring an additional 2,345 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of PriceSmart by 2.9% during the first quarter. Principal Financial Group Inc. now owns 2,857 shares of the company’s stock valued at $263,000 after acquiring an additional 81 shares during the period. 71.98% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total transaction of $302,257.68. Following the sale, the director now owns 125,374 shares of the company’s stock, valued at approximately $10,641,745.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 28.00% of the company’s stock.
Several equities analysts have recently issued reports on PSMT shares. Roth Capital set a $102.00 price target on PriceSmart and gave the company a “buy” rating in a research note on Tuesday, August 8th. TheStreet lowered PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Zacks Investment Research raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th.
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PriceSmart, Inc. (PSMT) opened at 87.60 on Friday. The stock’s 50 day moving average price is $83.08 and its 200 day moving average price is $86.35. PriceSmart, Inc. has a 52 week low of $78.00 and a 52 week high of $94.40. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 30.03 and a beta of 1.25.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, July 5th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.05). PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The firm had revenue of $730.30 million for the quarter, compared to analyst estimates of $734.80 million. During the same period last year, the business earned $0.55 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that PriceSmart, Inc. will post $3.07 EPS for the current year.
PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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