Algert Global LLC Has $9.85 Million Stock Position in PriceSmart, Inc. (NASDAQ:PSMT)

Algert Global LLC raised its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 3.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 107,286 shares of the company’s stock after purchasing an additional 3,471 shares during the quarter. Algert Global LLC’s holdings in PriceSmart were worth $9,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in shares of PriceSmart by 13.1% in the 3rd quarter. Cerity Partners LLC now owns 5,560 shares of the company’s stock valued at $510,000 after purchasing an additional 644 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PriceSmart by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 438,517 shares of the company’s stock valued at $40,247,000 after acquiring an additional 15,245 shares during the last quarter. Intech Investment Management LLC boosted its position in PriceSmart by 72.3% during the third quarter. Intech Investment Management LLC now owns 5,693 shares of the company’s stock valued at $523,000 after acquiring an additional 2,389 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in PriceSmart by 431.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,703 shares of the company’s stock worth $3,001,000 after acquiring an additional 26,544 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of PriceSmart by 313.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,037 shares of the company’s stock worth $187,000 after acquiring an additional 1,544 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP David R. Price sold 2,750 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $92.24, for a total transaction of $253,660.00. Following the transaction, the executive vice president now owns 48,844 shares in the company, valued at approximately $4,505,370.56. This represents a 5.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Francisco Velasco sold 670 shares of PriceSmart stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $89.05, for a total transaction of $59,663.50. Following the transaction, the executive vice president now owns 79,470 shares of the company’s stock, valued at $7,076,803.50. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,960 shares of company stock valued at $1,535,673. Company insiders own 18.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday.

PriceSmart Stock Up 1.7 %

Shares of NASDAQ PSMT opened at $89.96 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.76 billion, a PE ratio of 19.68 and a beta of 0.85. The company’s fifty day simple moving average is $90.08 and its 200 day simple moving average is $86.33. PriceSmart, Inc. has a 12-month low of $66.95 and a 12-month high of $94.82.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, October 30th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.07). PriceSmart had a net margin of 2.83% and a return on equity of 12.63%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current fiscal year.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.