Short Interest in PriceSmart, Inc. (PSMT) Drops By 25.6%
PriceSmart, Inc. (NASDAQ:PSMT) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,617,278 shares, a decrease of 25.6% from the February 15th total of 2,172,912 shares. Based on an average daily volume of 154,778 shares, the days-to-cover ratio is currently 10.4 days. Approximately 8.2% of the company’s shares are short sold.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of PriceSmart by 9.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,511,335 shares of the company’s stock valued at $134,887,000 after buying an additional 132,555 shares in the last quarter. BlackRock Inc. increased its holdings in PriceSmart by 0.3% during the 4th quarter. BlackRock Inc. now owns 1,367,489 shares of the company’s stock worth $117,742,000 after purchasing an additional 3,940 shares in the last quarter. Genesis Asset Managers LLP increased its holdings in PriceSmart by 25.2% during the 4th quarter. Genesis Asset Managers LLP now owns 1,135,665 shares of the company’s stock worth $97,781,000 after purchasing an additional 228,715 shares in the last quarter. Renaissance Technologies LLC increased its holdings in PriceSmart by 2.3% during the 4th quarter. Renaissance Technologies LLC now owns 683,900 shares of the company’s stock worth $58,884,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PriceSmart by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 654,058 shares of the company’s stock worth $58,374,000 after purchasing an additional 12,039 shares in the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
Shares of PriceSmart (NASDAQ PSMT) opened at $81.50 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.39 and a quick ratio of 0.44. PriceSmart has a 1 year low of $77.50 and a 1 year high of $94.00. The company has a market cap of $2,459.65, a price-to-earnings ratio of 28.10 and a beta of 1.30.
The company also recently disclosed a semiannual dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be given a $0.35 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 14th. PriceSmart’s dividend payout ratio is currently 24.14%.
A number of research firms recently commented on PSMT. Zacks Investment Research upgraded shares of PriceSmart from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Scotiabank restated a “sector perform” rating and issued a $90.00 price objective on shares of PriceSmart in a research report on Thursday, March 8th. BidaskClub cut shares of PriceSmart from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Scotia Howard Weill restated a “sector perform” rating on shares of PriceSmart in a research report on Friday, January 5th. Finally, Howard Weil cut shares of PriceSmart from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $92.50.
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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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