Y Intercept Hong Kong Ltd Makes New Investment in PriceSmart, Inc. $PSMT

Y Intercept Hong Kong Ltd purchased a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,472 shares of the company’s stock, valued at approximately $680,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSMT. Geneos Wealth Management Inc. boosted its stake in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of PriceSmart in the 1st quarter valued at $42,000. Quarry LP acquired a new stake in shares of PriceSmart in the 1st quarter valued at $49,000. USA Financial Formulas acquired a new stake in shares of PriceSmart in the 2nd quarter valued at $53,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of 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 purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PSMT. Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Insider Activity

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the completion of the sale, the executive vice president directly owned 47,082 shares of the company’s stock, valued at approximately $5,208,210.84. The trade was a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Francisco Velasco sold 550 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $122.82, for a total value of $67,551.00. Following the sale, the executive vice president directly owned 80,548 shares of the company’s stock, valued at $9,892,905.36. This represents a 0.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 17.10% of the company’s stock.

PriceSmart Stock Up 1.9%

Shares of NASDAQ PSMT opened at $119.28 on Thursday. The firm’s 50-day simple moving average is $117.88 and its 200 day simple moving average is $110.13. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 25.16 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $125.48.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.08). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Profile

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.