PriceSmart, Inc.’s September Same Store Sales Numbers Beat Expectations, Stock Drops by 1.8% (NASDAQ:PSMT)
PriceSmart’s (NASDAQ:PSMT) same-store sales increased by 2.8% in the month of September. PriceSmart’s stock dropped by 1.8% in the first full-day of trading following the report.
PSMT has been the topic of a number of recent research reports. Zacks Investment Research upgraded PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Roth Capital set a $102.00 target price on PriceSmart and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Ifs Securities initiated coverage on PriceSmart in a research report on Monday, September 25th. They set a “market perform” rating and a $85.00 target price on the stock. BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, TheStreet lowered PriceSmart from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $92.50.
In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the sale, the director now directly owns 125,374 shares of the company’s stock, valued at $10,641,745.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 28.00% of the stock is owned by insiders.
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PriceSmart (NASDAQ:PSMT) traded up 0.45% during trading on Friday, hitting $90.10. The stock had a trading volume of 83,497 shares. The company has a market cap of $2.71 billion, a PE ratio of 29.45 and a beta of 1.26. PriceSmart has a 52 week low of $78.00 and a 52 week high of $94.40. The stock has a 50-day moving average price of $86.09 and a 200-day moving average price of $86.33.
A number of large investors have recently bought and sold shares of PSMT. BlackRock Inc. raised its position in PriceSmart by 76,229.7% in the first quarter. BlackRock Inc. now owns 1,286,919 shares of the company’s stock worth $118,654,000 after purchasing an additional 1,285,233 shares in the last quarter. Genesis Asset Managers LLP increased its holdings in shares of PriceSmart by 267.8% during the second quarter. Genesis Asset Managers LLP now owns 598,786 shares of the company’s stock worth $52,454,000 after buying an additional 435,964 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PriceSmart by 11.0% during the first quarter. Vanguard Group Inc. now owns 2,016,257 shares of the company’s stock worth $185,899,000 after buying an additional 200,045 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of PriceSmart by 8.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,378,780 shares of the company’s stock worth $120,781,000 after buying an additional 109,090 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of PriceSmart by 11.9% during the second quarter. Bank of Montreal Can now owns 1,018,827 shares of the company’s stock worth $89,249,000 after buying an additional 108,009 shares in the last quarter. 71.98% of the stock is owned by hedge funds and other institutional investors.
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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