Chase Investment Counsel Corp Makes New $1.08 Million Investment in PriceSmart, Inc. $PSMT

Chase Investment Counsel Corp acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,526 shares of the company’s stock, valued at approximately $1,079,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of PriceSmart by 124.2% in the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after purchasing an additional 370 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PriceSmart by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock worth $1,310,000 after buying an additional 648 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 53,874 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 buying an additional 7,717 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in shares of PriceSmart by 34.7% in the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock worth $1,640,000 after buying an additional 4,806 shares during the last quarter. 80.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSMT has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $198.00 target price on shares of PriceSmart in a report on Wednesday. Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $198.00.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 3,499 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the sale, the director owned 32,150 shares in the company, valued at approximately $6,345,767. This represents a 9.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Beatriz V. Infante sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $195.98, for a total transaction of $156,784.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,399 shares of company stock valued at $1,446,056 in the last three months. Insiders own 17.00% of the company’s stock.

PriceSmart Stock Performance

Shares of PSMT opened at $180.22 on Monday. The company has a 50-day simple moving average of $186.59 and a two-hundred day simple moving average of $166.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The firm has a market capitalization of $5.56 billion, a PE ratio of 34.59 and a beta of 0.76. PriceSmart, Inc. has a one year low of $105.46 and a one year high of $199.84.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The firm 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 company posted $1.14 EPS. The firm’s revenue was up 12.5% on a year-over-year basis.

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.