Maryland State Retirement & Pension System Lowers Stock Holdings in PriceSmart, Inc. $PSMT

Maryland State Retirement & Pension System lowered its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 50.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,626 shares of the company’s stock after selling 3,688 shares during the period. Maryland State Retirement & Pension System’s holdings in PriceSmart were worth $439,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PriceSmart by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock worth $1,310,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of PriceSmart by 41.7% during the first quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock worth $16,069,000 after acquiring an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PriceSmart by 12.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock worth $6,206,000 after purchasing an additional 7,717 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock valued at $1,640,000 after purchasing an additional 4,806 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PriceSmart

In other news, EVP Paul Kovaleski sold 4,255 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $136.86, for a total value of $582,339.30. Following the completion of the transaction, the executive vice president directly owned 38,854 shares of the company’s stock, valued at $5,317,558.44. The trade was a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gordon H. Hanson sold 851 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $117.44, for a total value of $99,941.44. Following the completion of the sale, the director owned 7,653 shares in the company, valued at $898,768.32. This represents a 10.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,827 shares of company stock worth $3,683,481. 17.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Weiss Ratings cut PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, January 12th. Wall Street Zen downgraded PriceSmart from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

PriceSmart Trading Down 0.9%

NASDAQ:PSMT opened at $140.70 on Friday. PriceSmart, Inc. has a 52-week low of $81.25 and a 52-week high of $148.02. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $127.82 and a 200-day simple moving average of $118.88. The company has a market capitalization of $4.34 billion, a PE ratio of 28.71 and a beta of 0.74.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. On average, equities research analysts expect that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

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.