Bleakley Financial Group LLC Has $2.79 Million Stake in PriceSmart, Inc. $PSMT

Bleakley Financial Group LLC reduced its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 15.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,532 shares of the company’s stock after selling 3,317 shares during the period. Bleakley Financial Group LLC owned about 0.06% of PriceSmart worth $2,789,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. grew its position in PriceSmart by 41.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock worth $16,069,000 after purchasing an additional 53,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PriceSmart by 12.3% in the 1st 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 increased its stake 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 buying an additional 4,806 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

Insider Transactions at PriceSmart

In related news, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the sale, the director owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. This trade represents a 6.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $155.17, for a total transaction of $350,529.03. Following the transaction, the director owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This represents a 21.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,032 shares of company stock worth $660,982 over the last 90 days. 17.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

PriceSmart Stock Performance

NASDAQ PSMT opened at $188.58 on Thursday. The company has a market capitalization of $5.82 billion, a PE ratio of 36.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. PriceSmart, Inc. has a 52-week low of $104.11 and a 52-week high of $199.84. The company has a 50-day simple moving average of $177.70 and a 200 day simple moving average of $158.26.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.04). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS.

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.