Exchange Traded Concepts LLC Acquires New Holdings in PriceSmart, Inc. $PSMT

Exchange Traded Concepts LLC purchased a new stake in PriceSmart, Inc. (NASDAQ:PSMT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,336 shares of the company’s stock, valued at approximately $2,222,000. Exchange Traded Concepts LLC owned 0.06% of PriceSmart as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of PriceSmart in the second quarter worth $28,000. Steward Partners Investment Advisory LLC increased its position in shares of PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Quarry LP purchased a new stake in shares of PriceSmart during the first quarter worth $49,000. Finally, Osaic Holdings Inc. raised its stake in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PSMT shares. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings upgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, PriceSmart has an average rating of “Strong Buy”.

Insider Buying and Selling at PriceSmart

In other news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction on Monday, October 6th. The shares were sold at an average price of $122.82, for a total value of $67,551.00. Following the transaction, the executive vice president directly owned 80,548 shares of the company’s stock, valued at $9,892,905.36. The trade was a 0.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Paul Kovaleski sold 1,305 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $114.55, for a total transaction of $149,487.75. Following the sale, the executive vice president owned 43,109 shares of the company’s stock, valued at approximately $4,938,135.95. This represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 12,706 shares of company stock valued at $1,467,980. 17.10% of the stock is currently owned by insiders.

PriceSmart Stock Up 0.1%

PriceSmart stock opened at $123.98 on Friday. PriceSmart, Inc. has a fifty-two week low of $81.25 and a fifty-two week high of $131.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.57 and a current ratio of 1.34. The company has a market capitalization of $3.82 billion, a P/E ratio of 25.72 and a beta of 0.76. The stock has a 50-day simple moving average of $122.02 and a 200-day simple moving average of $114.83.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. PriceSmart had a return on equity of 12.34% and a net margin of 2.81%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Equities research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

PriceSmart Profile

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.