Robert E. Price Sells 5,476 Shares of PriceSmart, Inc. (NASDAQ:PSMT) Stock

PriceSmart, Inc. (NASDAQ:PSMT) Director Robert E. Price sold 5,476 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $91.51, for a total value of $501,108.76. Following the sale, the director now directly owns 80 shares of the company’s stock, valued at $7,320.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

PSMT opened at $92.08 on Friday. The firm’s 50 day moving average is $88.78. The company has a current ratio of 1.29, a quick ratio of 0.61 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.83 billion, a P/E ratio of 31.97 and a beta of 0.82. PriceSmart, Inc. has a 52 week low of $54.02 and a 52 week high of $104.90.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Thursday, April 8th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.14). The business had revenue of $937.60 million for the quarter, compared to analysts’ expectations of $938.35 million. PriceSmart had a return on equity of 10.46% and a net margin of 2.59%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share.

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc purchased a new position in shares of PriceSmart during the 4th quarter worth approximately $217,000. Norges Bank purchased a new position in shares of PriceSmart during the 4th quarter worth approximately $1,410,000. Wells Fargo & Company MN raised its stake in shares of PriceSmart by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 489,049 shares of the company’s stock worth $44,547,000 after buying an additional 7,564 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of PriceSmart by 261.7% during the 4th quarter. SG Americas Securities LLC now owns 51,819 shares of the company’s stock worth $4,720,000 after buying an additional 37,494 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of PriceSmart by 9.5% during the 4th quarter. Bank of New York Mellon Corp now owns 306,737 shares of the company’s stock worth $27,940,000 after buying an additional 26,564 shares in the last quarter. 76.51% of the stock is owned by institutional investors and hedge funds.

About PriceSmart

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products and provide services, such as optical and tires to individuals and businesses. As of February 03, 2021, the company operated 47 warehouse clubs in 12 countries and one U.S.

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