PriceSmart, Inc. (PSMT) Stake Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 24.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,394 shares of the company’s stock after acquiring an additional 1,260 shares during the period. Victory Capital Management Inc.’s holdings in PriceSmart were worth $518,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wesbanco Bank Inc. purchased a new position in shares of PriceSmart during the 2nd quarter valued at approximately $200,000. Atria Investments LLC purchased a new position in shares of PriceSmart during the 3rd quarter valued at approximately $208,000. Tower Research Capital LLC TRC purchased a new position in shares of PriceSmart during the 2nd quarter valued at approximately $236,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of PriceSmart during the 2nd quarter valued at approximately $350,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of PriceSmart by 4,000.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,100 shares of the company’s stock valued at $371,000 after buying an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.

Shares of PSMT stock opened at $66.89 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.48 and a current ratio of 1.40. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 22.52 and a beta of 1.09. PriceSmart, Inc. has a fifty-two week low of $64.46 and a fifty-two week high of $94.45.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $777.87 million for the quarter, compared to analyst estimates of $776.30 million. PriceSmart had a return on equity of 12.07% and a net margin of 2.35%. Sell-side analysts expect that PriceSmart, Inc. will post 2.7 EPS for the current year.

A number of brokerages have recently issued reports on PSMT. Zacks Investment Research upgraded PriceSmart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 10th. BidaskClub lowered PriceSmart from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. PriceSmart presently has a consensus rating of “Hold” and a consensus target price of $90.50.

In other PriceSmart news, CEO Jose Luis Laparte sold 22,058 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $69.19, for a total value of $1,526,193.02. Following the transaction, the chief executive officer now owns 187,054 shares in the company, valued at approximately $12,942,266.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Price sold 10,000 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $85.50, for a total value of $855,000.00. Following the completion of the transaction, the director now owns 80 shares in the company, valued at approximately $6,840. The disclosure for this sale can be found here. Insiders sold a total of 98,053 shares of company stock worth $7,176,208 in the last 90 days. 28.00% of the stock is currently owned by insiders.

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PriceSmart Company Profile

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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