Acadian Asset Management LLC lifted its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 869.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,214 shares of the company’s stock after acquiring an additional 139,198 shares during the period. Acadian Asset Management LLC owned about 0.50% of PriceSmart worth $15,019,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in PriceSmart by 1,815.0% in the first quarter. Meeder Asset Management Inc. now owns 383 shares of the company’s stock worth $36,000 after buying an additional 363 shares during the period. Vantage Consulting Group Inc acquired a new stake in PriceSmart in the fourth quarter worth $52,000. R.H. Dinel Investment Counsel Inc. acquired a new stake in PriceSmart in the first quarter worth $63,000. Veriti Management LLC acquired a new stake in PriceSmart in the fourth quarter worth $82,000. Finally, Reby Advisors LLC acquired a new stake in PriceSmart in the fourth quarter worth $91,000. 76.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Juan Ignacio Biehl sold 2,422 shares of the stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $89.38, for a total value of $216,478.36. Following the completion of the transaction, the executive vice president now owns 7,605 shares of the company’s stock, valued at $679,734.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert E. Price sold 5,476 shares of the stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $91.51, for a total value of $501,108.76. Following the completion of the transaction, the director now directly owns 80 shares of the company’s stock, valued at approximately $7,320.80. The disclosure for this sale can be found here. In the last three months, insiders sold 182,579 shares of company stock valued at $16,612,255. Company insiders own 24.50% of the company’s stock.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Thursday, April 8th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.14). PriceSmart had a return on equity of 10.46% and a net margin of 2.59%. The business had revenue of $937.60 million during the quarter, compared to the consensus estimate of $938.35 million. During the same period in the previous year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year.
PriceSmart Company Profile
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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