PriceSmart (NASDAQ:PSMT) Posts Earnings Results

PriceSmart (NASDAQ:PSMT) announced its earnings results on Wednesday. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04), FiscalAI reports. The firm 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 12.23% and a net margin of 2.82%.

PriceSmart Stock Down 1.5%

PriceSmart stock traded down $2.84 during mid-day trading on Wednesday, hitting $189.11. The company had a trading volume of 473,106 shares, compared to its average volume of 250,193. PriceSmart has a 12 month low of $101.30 and a 12 month high of $199.84. The company has a market capitalization of $5.84 billion, a PE ratio of 37.30 and a beta of 0.76. The stock’s 50 day moving average price is $173.50 and its two-hundred day moving average price is $155.42. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10.

Insider Transactions at PriceSmart

In other PriceSmart news, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director directly owned 8,149 shares in the company, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at $11,996,491.04. This trade represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,232 shares of company stock valued at $504,198 in the last quarter. 17.00% of the stock is owned by insiders.

Institutional Investors Weigh In On PriceSmart

Institutional investors have recently made changes to their positions in the company. Progeny 3 Inc. purchased a new position in PriceSmart in the 3rd quarter worth approximately $27,825,000. Invesco Ltd. increased its holdings in shares of PriceSmart by 54.7% in the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock worth $57,936,000 after purchasing an additional 194,980 shares in the last quarter. Millennium Management LLC raised its stake in shares of PriceSmart by 5,150.6% in the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after purchasing an additional 112,747 shares during the last quarter. Marshall Wace LLP raised its stake in shares of PriceSmart by 1,057.7% in the fourth quarter. Marshall Wace LLP now owns 82,096 shares of the company’s stock worth $10,071,000 after purchasing an additional 75,005 shares during the last quarter. Finally, Pertento Partners LLP lifted its holdings in shares of PriceSmart by 17.3% during the fourth quarter. Pertento Partners LLP now owns 488,387 shares of the company’s stock valued at $59,910,000 after purchasing an additional 71,879 shares in the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded 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 currently has an average rating of “Buy”.

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.