Magnetar Financial LLC Makes New Investment in PriceSmart, Inc. (NASDAQ:PSMT)

Magnetar Financial LLC bought a new stake in PriceSmart, Inc. (NASDAQ:PSMT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,142 shares of the company’s stock, valued at approximately $255,000.

Other hedge funds have also made changes to their positions in the company. UBS Group AG raised its holdings in shares of PriceSmart by 2,132.7% during the fourth quarter. UBS Group AG now owns 88,015 shares of the company’s stock worth $6,670,000 after acquiring an additional 84,073 shares in the last quarter. TD Asset Management Inc raised its stake in shares of PriceSmart by 4.6% during the 4th quarter. TD Asset Management Inc now owns 24,800 shares of the company’s stock worth $1,879,000 after purchasing an additional 1,100 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of PriceSmart by 30,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock valued at $69,000 after buying an additional 909 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings in PriceSmart by 28.9% in the fourth quarter. Capstone Investment Advisors LLC now owns 5,407 shares of the company’s stock worth $410,000 after buying an additional 1,212 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in PriceSmart during the fourth quarter valued at approximately $605,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 9,500 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sherry S. Bahrambeygui sold 9,500 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 61,216 shares in the company, valued at approximately $5,164,793.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Francisco Velasco sold 1,298 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $87.00, for a total transaction of $112,926.00. Following the transaction, the executive vice president now directly owns 81,751 shares of the company’s stock, valued at approximately $7,112,337. The disclosure for this sale can be found here. Insiders have sold 20,904 shares of company stock worth $1,806,714 in the last quarter. 18.60% of the stock is currently owned by company insiders.

PriceSmart Price Performance

Shares of NASDAQ:PSMT opened at $88.92 on Thursday. The stock has a market capitalization of $2.72 billion, a P/E ratio of 21.58 and a beta of 0.85. The business has a 50-day moving average of $87.14 and a two-hundred day moving average of $83.91. PriceSmart, Inc. has a fifty-two week low of $61.82 and a fifty-two week high of $92.76. 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 (NASDAQ:PSMT) last announced its earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that PriceSmart, Inc. will post 4.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

PriceSmart Company 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.