PriceSmart (NASDAQ:PSMT) Announces Earnings Results

PriceSmart (NASDAQ:PSMT) released its earnings results on Wednesday. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.04), FiscalAI reports. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%.

PriceSmart Price Performance

PriceSmart stock traded down $2.84 during midday trading on Wednesday, reaching $189.11. The company’s stock had a trading volume of 474,117 shares, compared to its average volume of 250,193. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.84 billion, a PE ratio of 37.30 and a beta of 0.76. PriceSmart has a 52 week low of $101.30 and a 52 week high of $199.84. The business has a 50-day moving average price of $173.50 and a 200-day moving average price of $155.42.

Insider Activity

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the sale, the executive vice president owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the transaction, the director owned 8,149 shares of the company’s stock, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,232 shares of company stock worth $504,198. Corporate insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Several hedge funds have recently modified their holdings of PSMT. Geneos Wealth Management Inc. increased its holdings in PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares in the last quarter. UMB Bank n.a. increased its stake in shares of PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after buying an additional 98 shares during the period. Osaic Holdings Inc. raised its holdings in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in PriceSmart by 124.2% in the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock valued at $59,000 after buying an additional 370 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in PriceSmart by 27.4% during the 3rd quarter. Parallel Advisors LLC now owns 516 shares of the company’s stock worth $63,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.