PriceSmart, Inc. (NASDAQ:PSMT) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 46.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,088 shares of the company’s stock after buying an additional 30,581 shares during the quarter. Envestnet Asset Management Inc.’s holdings in PriceSmart were worth $7,802,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its stake in PriceSmart by 201.5% during the 1st quarter. GSA Capital Partners LLP now owns 20,369 shares of the company’s stock worth $1,711,000 after buying an additional 13,614 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in PriceSmart during the 1st quarter worth $2,673,000. Capstone Investment Advisors LLC boosted its position in PriceSmart by 249.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 18,868 shares of the company’s stock worth $1,585,000 after acquiring an additional 13,461 shares during the period. Simplicity Wealth LLC acquired a new position in PriceSmart during the 2nd quarter worth $1,202,000. Finally, LSV Asset Management boosted its position in PriceSmart by 938.5% during the 1st quarter. LSV Asset Management now owns 181,971 shares of the company’s stock worth $15,286,000 after acquiring an additional 164,449 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Francisco Velasco sold 670 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $89.05, for a total value of $59,663.50. Following the completion of the sale, the executive vice president now owns 79,470 shares in the company, valued at $7,076,803.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Francisco Velasco sold 670 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $89.05, for a total value of $59,663.50. Following the completion of the sale, the executive vice president now owns 79,470 shares in the company, valued at $7,076,803.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edgar Zurcher sold 795 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $87.65, for a total value of $69,681.75. Following the sale, the director now directly owns 8,027 shares of the company’s stock, valued at $703,566.55. The disclosure for this sale can be found here. Insiders sold a total of 20,904 shares of company stock worth $1,806,714 over the last 90 days. 18.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

PriceSmart Trading Up 2.0 %

Shares of PSMT stock opened at $91.31 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.49 and a current ratio of 1.20. PriceSmart, Inc. has a 1 year low of $61.82 and a 1 year high of $92.76. The stock has a fifty day moving average of $87.22 and a two-hundred day moving average of $84.00. The firm has a market capitalization of $2.80 billion, a PE ratio of 22.16 and a beta of 0.85.

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

About PriceSmart

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.