PriceSmart, Inc. $PSMT Shares Sold by London Co. of Virginia

London Co. of Virginia cut its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,149 shares of the company’s stock after selling 6,868 shares during the period. London Co. of Virginia owned 0.59% of PriceSmart worth $27,564,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after acquiring an additional 98 shares during the period. CENTRAL TRUST Co bought a new position in shares of PriceSmart in the fourth quarter valued at approximately $32,000. Osaic Holdings Inc. boosted its holdings in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of PriceSmart by 45,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after acquiring an additional 456 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Insider Activity at PriceSmart

In other news, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director directly owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the transaction, the executive vice president owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,032 shares of company stock valued at $660,982. 17.00% of the stock is owned by company insiders.

PriceSmart Trading Down 0.2%

NASDAQ:PSMT opened at $186.24 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08. PriceSmart, Inc. has a 1-year low of $104.65 and a 1-year high of $199.84. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 35.75 and a beta of 0.76. The stock has a fifty day simple moving average of $181.61 and a 200 day simple moving average of $161.07.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, July 8th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.04). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.PriceSmart’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS.

PriceSmart Profile

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.