D.A. Davidson & CO. boosted its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,361 shares of the company’s stock after acquiring an additional 1,830 shares during the period. D.A. Davidson & CO.’s holdings in PriceSmart were worth $1,163,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Northern Trust Corp raised its holdings in PriceSmart by 2.8% in the second quarter. Northern Trust Corp now owns 341,337 shares of the company’s stock worth $30,891,000 after buying an additional 9,283 shares during the last quarter. First Hawaiian Bank purchased a new position in PriceSmart in the third quarter worth about $380,000. Zebra Capital Management LLC purchased a new position in PriceSmart in the second quarter worth about $458,000. Thornburg Investment Management Inc. raised its holdings in PriceSmart by 2.8% in the third quarter. Thornburg Investment Management Inc. now owns 158,513 shares of the company’s stock worth $12,832,000 after buying an additional 4,250 shares during the last quarter. Finally, Peak Capital Management LLC purchased a new position in PriceSmart in the second quarter worth about $1,095,000. 78.42% of the stock is owned by institutional investors.
PSMT opened at $66.89 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.48. PriceSmart, Inc. has a twelve month low of $64.46 and a twelve month high of $94.45. The company has a market cap of $2.04 billion, a PE ratio of 27.53 and a beta of 1.09.
In other news, CEO Jose Luis Laparte sold 15,995 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $64.94, for a total transaction of $1,038,715.30. Following the completion of the transaction, the chief executive officer now directly owns 171,059 shares of the company’s stock, valued at $11,108,571.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Price sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $85.50, for a total transaction of $855,000.00. Following the transaction, the director now directly owns 80 shares of the company’s stock, valued at $6,840. The disclosure for this sale can be found here. Insiders have sold 98,053 shares of company stock valued at $7,176,208 over the last three months. 28.00% of the stock is owned by corporate insiders.
Several research analysts have issued reports on the stock. BidaskClub cut shares of PriceSmart from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Zacks Investment Research raised shares of PriceSmart from a “strong sell” rating to a “hold” rating in a report on Monday, September 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. PriceSmart presently has an average rating of “Hold” and an average target price of $90.50.
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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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