Comerica Bank Sells 1,421 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Comerica Bank lessened its position in shares of PriceSmart, Inc. (NASDAQ:PSMTGet Rating) by 6.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,285 shares of the company’s stock after selling 1,421 shares during the period. Comerica Bank’s holdings in PriceSmart were worth $1,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in PriceSmart by 1.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 9,921 shares of the company’s stock valued at $711,000 after purchasing an additional 187 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in PriceSmart by 2.7% in the second quarter. Los Angeles Capital Management LLC now owns 7,175 shares of the company’s stock valued at $514,000 after purchasing an additional 190 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in PriceSmart by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 45,160 shares of the company’s stock valued at $3,235,000 after purchasing an additional 200 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in PriceSmart by 1.0% in the first quarter. Great West Life Assurance Co. Can now owns 21,203 shares of the company’s stock valued at $1,716,000 after purchasing an additional 218 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in PriceSmart by 9.0% in the first quarter. Captrust Financial Advisors now owns 2,712 shares of the company’s stock valued at $214,000 after purchasing an additional 223 shares in the last quarter. 80.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSMT has been the subject of several research analyst reports. StockNews.com downgraded shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 11th. Scotiabank cut shares of PriceSmart from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $96.00 to $77.00 in a report on Tuesday, November 29th.

PriceSmart Stock Up 2.5 %

Shares of NASDAQ PSMT opened at $71.42 on Tuesday. The stock has a market capitalization of $2.22 billion, a P/E ratio of 20.70 and a beta of 0.80. The company has a 50-day moving average price of $66.72 and a 200-day moving average price of $64.94. PriceSmart, Inc. has a 1 year low of $56.29 and a 1 year high of $88.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.56.

PriceSmart (NASDAQ:PSMTGet Rating) last issued its quarterly earnings data on Monday, January 9th. The company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.08 billion. PriceSmart had a net margin of 2.58% and a return on equity of 10.86%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share.

Insider Buying and Selling

In related news, Director Gordon H. Hanson sold 1,450 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $68.79, for a total transaction of $99,745.50. Following the transaction, the director now directly owns 4,707 shares in the company, valued at $323,794.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Gordon H. Hanson sold 1,450 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $68.79, for a total transaction of $99,745.50. Following the transaction, the director now directly owns 4,707 shares in the company, valued at $323,794.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sherry S. Bahrambeygui sold 15,000 shares of the business’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $69.74, for a total transaction of $1,046,100.00. Following the transaction, the chief executive officer now owns 177,306 shares in the company, valued at $12,365,320.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,577 shares of company stock worth $3,113,551. 17.40% of the stock is owned by insiders.

PriceSmart Company Profile

(Get Rating)

PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell locally and regionally sourced goods, essential goods, direct-from-farm fresh produce, private label consumer products, prepared foods, and fresh-baked goods under the brand name Member's Selection.

Further Reading

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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