Kendall Capital Management Grows Position in PriceSmart, Inc. (NASDAQ:PSMT)

Kendall Capital Management boosted its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 41.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,475 shares of the company’s stock after purchasing an additional 2,775 shares during the period. Kendall Capital Management’s holdings in PriceSmart were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in shares of PriceSmart during the 2nd quarter worth $28,000. GAMMA Investing LLC grew its position in PriceSmart by 76.4% during the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 181 shares during the period. Covestor Ltd increased its stake in PriceSmart by 237.4% during the first quarter. Covestor Ltd now owns 442 shares of the company’s stock worth $38,000 after acquiring an additional 311 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of PriceSmart in the 2nd quarter worth about $40,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of PriceSmart in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

PriceSmart Stock Up 0.1 %

Shares of PriceSmart stock opened at $89.06 on Thursday. PriceSmart, Inc. has a twelve month low of $61.82 and a twelve month high of $92.76. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 21.62 and a beta of 0.85. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $86.71 and a 200 day moving average price of $83.69.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 earnings per share. Equities research analysts forecast that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $801,515.00. Following the completion of the transaction, the director now directly owns 61,216 shares in the company, valued at $5,164,793.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PriceSmart news, Director Sherry S. Bahrambeygui sold 2,641 shares of PriceSmart stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $89.81, for a total transaction of $237,188.21. Following the sale, the director now directly owns 47,575 shares in the company, valued at approximately $4,272,710.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherry S. Bahrambeygui sold 9,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 61,216 shares in the company, valued at $5,164,793.92. The disclosure for this sale can be found here. Insiders have sold 20,904 shares of company stock worth $1,806,714 over the last 90 days. Company insiders own 18.60% of the company’s stock.

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.