Lombard Odier Asset Management Europe Ltd Makes New $867,000 Investment in PriceSmart, Inc. (NASDAQ:PSMT)

Lombard Odier Asset Management Europe Ltd bought a new position in PriceSmart, Inc. (NASDAQ:PSMT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,673 shares of the company’s stock, valued at approximately $867,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSMT. Vanguard Group Inc. lifted its position in shares of PriceSmart by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock worth $287,671,000 after buying an additional 105,405 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of PriceSmart by 1.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,713,463 shares of the company’s stock worth $227,931,000 after purchasing an additional 30,045 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of PriceSmart by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,309,265 shares of the company’s stock worth $106,311,000 after buying an additional 35,390 shares during the last quarter. American Century Companies Inc. grew its position in PriceSmart by 20.4% during the second quarter. American Century Companies Inc. now owns 1,085,897 shares of the company’s stock valued at $88,175,000 after buying an additional 184,252 shares during the period. Finally, Bank of New York Mellon Corp grew its position in PriceSmart by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 264,585 shares of the company’s stock valued at $21,484,000 after buying an additional 2,789 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Transactions at PriceSmart

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

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $89.00 on Tuesday. The company has a 50-day moving average price of $87.16 and a two-hundred day moving average price of $83.83. The firm has a market capitalization of $2.73 billion, a PE ratio of 21.60 and a beta of 0.85. PriceSmart, Inc. has a twelve month low of $61.82 and a twelve month high of $92.76. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09.

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

Wall Street Analyst Weigh In

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

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.