Wittenberg Investment Management Inc. Has $2.53 Million Stake in PriceSmart, Inc. (PSMT)
Wittenberg Investment Management Inc. reduced its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,847 shares of the company’s stock after selling 150 shares during the period. PriceSmart comprises about 1.1% of Wittenberg Investment Management Inc.’s holdings, making the stock its 19th largest holding. Wittenberg Investment Management Inc. owned approximately 0.10% of PriceSmart worth $2,527,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Quantitative Investment Management LLC purchased a new stake in PriceSmart in the 1st quarter worth about $645,000. Swiss National Bank lifted its stake in PriceSmart by 1.6% in the 1st quarter. Swiss National Bank now owns 32,500 shares of the company’s stock worth $2,997,000 after acquiring an additional 500 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in PriceSmart by 45.3% in the 1st quarter. Point72 Asset Management L.P. now owns 114,327 shares of the company’s stock worth $10,541,000 after acquiring an additional 35,629 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in PriceSmart by 10.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 129,088 shares of the company’s stock worth $11,902,000 after acquiring an additional 11,831 shares in the last quarter. Finally, Crawford Investment Counsel Inc. lifted its stake in PriceSmart by 4.2% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 133,329 shares of the company’s stock worth $11,680,000 after acquiring an additional 5,320 shares in the last quarter. 71.98% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on PSMT shares. TheStreet downgraded PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. BidaskClub raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Roth Capital set a $102.00 price objective on PriceSmart and gave the stock a “buy” rating in a research note on Tuesday, August 8th.
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In other news, Director Sherry S. Bahrambeygui sold 3,561 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $84.88, for a total value of $302,257.68. Following the completion of the transaction, the director now directly owns 125,374 shares in the company, valued at approximately $10,641,745.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.00% of the stock is currently owned by corporate insiders.
PriceSmart, Inc. (PSMT) traded up 0.87% during midday trading on Friday, hitting $86.85. The stock had a trading volume of 53,982 shares. The firm has a market cap of $2.61 billion, a P/E ratio of 28.39 and a beta of 1.25. The stock has a 50-day moving average of $82.84 and a 200-day moving average of $86.45. PriceSmart, Inc. has a 52 week low of $78.00 and a 52 week high of $94.40.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 5th. The company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.05). PriceSmart had a net margin of 3.13% and a return on equity of 14.05%. The firm had revenue of $730.30 million during the quarter, compared to the consensus estimate of $734.80 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Analysts forecast that PriceSmart, Inc. will post $3.07 EPS for the current fiscal year.
PriceSmart Company Profile
PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.
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