Edgestream Partners L.P. Purchases Shares of 40,365 PriceSmart, Inc. $PSMT

Edgestream Partners L.P. acquired a new position in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,365 shares of the company’s stock, valued at approximately $6,075,000.

A number of other institutional investors also recently made changes to their positions in PSMT. Amundi acquired a new position in shares of PriceSmart in the first quarter valued at approximately $458,000. EverSource Wealth Advisors LLC increased its stake in shares of PriceSmart by 22.6% during the first quarter. EverSource Wealth Advisors LLC now owns 651 shares of the company’s stock worth $98,000 after purchasing an additional 120 shares during the period. California State Teachers Retirement System lifted its holdings in PriceSmart by 22.7% during the 1st quarter. California State Teachers Retirement System now owns 30,720 shares of the company’s stock worth $4,623,000 after purchasing an additional 5,680 shares during the last quarter. Empowered Funds LLC acquired a new stake in PriceSmart during the 1st quarter worth approximately $5,165,000. Finally, The Manufacturers Life Insurance Company boosted its stake in PriceSmart by 2.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,241 shares of the company’s stock valued at $1,842,000 after purchasing an additional 328 shares during the period. Institutional investors own 80.46% of the company’s stock.

PriceSmart Price Performance

NASDAQ:PSMT opened at $192.39 on Friday. PriceSmart, Inc. has a 52 week low of $105.46 and a 52 week high of $199.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. The firm’s 50-day simple moving average is $183.80 and its 200 day simple moving average is $163.01. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 36.93 and a beta of 0.76.

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

Insider Buying and Selling at PriceSmart

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $192.66, for a total transaction of $192,660.00. Following the transaction, the director owned 36,649 shares in the company, valued at $7,060,796.34. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beatriz V. Infante sold 800 shares of PriceSmart stock in a transaction on Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the transaction, the director directly owned 11,210 shares of the company’s stock, valued at $2,196,935.80. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,497 shares of company stock valued at $965,085 in the last three months. Corporate insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

PriceSmart Company 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.