PriceSmart (NASDAQ:PSMT) Raised to Sell at BidaskClub

BidaskClub upgraded shares of PriceSmart (NASDAQ:PSMT) from a strong sell rating to a sell rating in a research note released on Saturday, BidAskClub reports.

Separately, Zacks Investment Research downgraded IQIYI from a hold rating to a sell rating in a research note on Friday, March 29th.

PSMT stock opened at $61.39 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.28 and a quick ratio of 0.45. The company has a market cap of $1.87 billion, a P/E ratio of 25.26 and a beta of 1.01. PriceSmart has a fifty-two week low of $48.06 and a fifty-two week high of $88.65. The business’s fifty day moving average price is $52.15.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 10th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.13. The company had revenue of $788.56 million during the quarter, compared to the consensus estimate of $792.96 million. PriceSmart had a return on equity of 11.19% and a net margin of 2.23%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 EPS. On average, analysts predict that PriceSmart will post 2.5 EPS for the current fiscal year.

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $57.16, for a total value of $1,143,200.00. Following the completion of the transaction, the director now owns 154,201 shares in the company, valued at approximately $8,814,129.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Philanthropies Foundatio Price sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $51.04, for a total value of $510,400.00. Following the completion of the transaction, the insider now owns 4,368,455 shares of the company’s stock, valued at approximately $222,965,943.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,137 shares of company stock valued at $2,992,186. 27.10% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in PSMT. Marathon Asset Management LLP purchased a new stake in PriceSmart during the second quarter valued at $14,603,000. First Trust Advisors LP increased its position in PriceSmart by 137.9% during the first quarter. First Trust Advisors LP now owns 13,080 shares of the company’s stock valued at $770,000 after acquiring an additional 7,583 shares during the last quarter. Marshall Wace LLP increased its position in PriceSmart by 105.6% during the first quarter. Marshall Wace LLP now owns 13,737 shares of the company’s stock valued at $809,000 after acquiring an additional 7,057 shares during the last quarter. AlphaCrest Capital Management LLC increased its position in PriceSmart by 14.9% during the first quarter. AlphaCrest Capital Management LLC now owns 8,500 shares of the company’s stock valued at $500,000 after acquiring an additional 1,100 shares during the last quarter. Finally, GAM Holding AG purchased a new stake in PriceSmart during the first quarter valued at $1,105,000. 72.64% of the stock is currently owned by hedge funds and other institutional investors.

About PriceSmart

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

See Also: No Load Funds

Receive News & Ratings for PriceSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PriceSmart and related companies with MarketBeat.com's FREE daily email newsletter.