Lombard Odier Asset Management Europe Ltd Buys Shares of 72,951 PriceSmart, Inc. $PSMT

Lombard Odier Asset Management Europe Ltd bought a new stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,951 shares of the company’s stock, valued at approximately $14,250,000. Lombard Odier Asset Management Europe Ltd owned 0.24% of PriceSmart as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC purchased a new position in PriceSmart in the second quarter valued at approximately $6,926,000. Jefferies Financial Group Inc. bought a new position in PriceSmart during the second quarter valued at $294,000. Public Employees Retirement System of Ohio purchased a new stake in PriceSmart in the second quarter worth $123,000. Capstone Investment Advisors LLC purchased a new stake in PriceSmart in the second quarter worth $578,000. Finally, Corient Private Wealth LP bought a new stake in shares of PriceSmart in the second quarter valued at $831,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart has an average rating of “Buy” and a consensus target price of $198.00.

PriceSmart Stock Performance

NASDAQ:PSMT opened at $169.34 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.53 and a current ratio of 1.28. PriceSmart, Inc. has a 52-week low of $106.87 and a 52-week high of $199.84. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 32.50 and a beta of 0.76. The business’s fifty day moving average is $185.62 and its 200 day moving average is $168.05.

PriceSmart (NASDAQ:PSMT) last issued its earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.04). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS.

Insider Transactions at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 3,499 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the completion of the transaction, the director owned 32,150 shares of the company’s stock, valued at approximately $6,345,767. The trade was a 9.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the sale, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This trade represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 7,737 shares of company stock valued at $1,506,176. 17.00% of the stock is currently owned by corporate insiders.

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.