Algert Global LLC Buys 2,225 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Algert Global LLC lifted its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 2.2% during the second quarter, HoldingsChannel.com reports. The firm owned 103,815 shares of the company’s stock after purchasing an additional 2,225 shares during the quarter. Algert Global LLC’s holdings in PriceSmart were worth $8,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in PriceSmart by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,600 shares of the company’s stock worth $1,104,000 after buying an additional 365 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of PriceSmart by 10.8% in the 2nd quarter. Millennium Management LLC now owns 84,846 shares of the company’s stock worth $6,889,000 after purchasing an additional 8,266 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of PriceSmart in the 2nd quarter worth about $934,000. EdgePoint Investment Group Inc. boosted its holdings in shares of PriceSmart by 1.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,744,726 shares of the company’s stock worth $222,872,000 after purchasing an additional 31,263 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of PriceSmart by 179.1% in the 2nd quarter. AQR Capital Management LLC now owns 57,052 shares of the company’s stock worth $4,633,000 after purchasing an additional 36,614 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Insider Transactions at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $84.37, for a total transaction of $801,515.00. Following the completion of the transaction, the director now owns 61,216 shares of the company’s stock, valued at approximately $5,164,793.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other PriceSmart news, EVP David R. Price sold 2,000 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $87.85, for a total transaction of $175,700.00. Following the sale, the executive vice president now directly owns 51,768 shares in the company, valued at approximately $4,547,818.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sherry S. Bahrambeygui sold 9,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $84.37, for a total value of $801,515.00. Following the sale, the director now owns 61,216 shares in the company, valued at $5,164,793.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,904 shares of company stock valued at $1,806,714. Corporate insiders own 18.60% of the company’s stock.

PriceSmart Trading Up 2.0 %

PSMT opened at $91.31 on Friday. The business has a 50 day simple moving average of $87.22 and a two-hundred day simple moving average of $84.00. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 22.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. PriceSmart, Inc. has a one year low of $61.82 and a one year high of $92.76.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Wednesday, July 10th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. PriceSmart had a return on equity of 11.89% and a net margin of 2.60%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company posted $1.02 EPS. PriceSmart’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts predict that PriceSmart, Inc. will post 4.64 EPS for the current year.

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.