Managed Asset Portfolios LLC Acquires 11,546 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Managed Asset Portfolios LLC grew its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 16.5% in the 3rd quarter, Holdings Channel reports. The fund owned 81,635 shares of the company’s stock after purchasing an additional 11,546 shares during the quarter. Managed Asset Portfolios LLC’s holdings in PriceSmart were worth $7,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSMT. Innealta Capital LLC bought a new position in PriceSmart during the second quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new stake in shares of PriceSmart during the second quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of PriceSmart by 76.4% during the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock valued at $34,000 after purchasing an additional 181 shares during the period. Covestor Ltd raised its stake in shares of PriceSmart by 237.4% in the first quarter. Covestor Ltd now owns 442 shares of the company’s stock valued at $38,000 after purchasing an additional 311 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in PriceSmart in the second quarter worth about $40,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

PriceSmart Price Performance

Shares of PSMT stock opened at $89.96 on Friday. PriceSmart, Inc. has a 1 year low of $66.95 and a 1 year high of $94.82. The company has a current ratio of 1.22, a quick ratio of 0.45 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $90.08 and its 200-day moving average is $86.38. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 19.68 and a beta of 0.85.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.07). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. PriceSmart had a return on equity of 12.63% and a net margin of 2.83%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. Sell-side analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded PriceSmart from a “buy” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In related news, EVP David R. Price sold 2,750 shares of PriceSmart stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total transaction of $253,660.00. Following the completion of the sale, the executive vice president now directly owns 48,844 shares of the company’s stock, valued at $4,505,370.56. The trade was a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Francisco Velasco sold 670 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $89.05, for a total value of $59,663.50. Following the completion of the transaction, the executive vice president now directly owns 79,470 shares in the company, valued at $7,076,803.50. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,960 shares of company stock worth $1,535,673 over the last three months. 18.60% of the stock is currently owned by company insiders.

PriceSmart Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.