Raymond James & Associates Sells 7,042 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Raymond James & Associates lessened its stake in PriceSmart, Inc. (NASDAQ:PSMT – Get Rating) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,471 shares of the company’s stock after selling 7,042 shares during the quarter. Raymond James & Associates owned 0.27% of PriceSmart worth $5,073,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PSMT. Point72 Hong Kong Ltd acquired a new stake in PriceSmart during the first quarter worth about $37,000. Quadrant Capital Group LLC grew its stake in PriceSmart by 251.7% during the third quarter. Quadrant Capital Group LLC now owns 911 shares of the company’s stock worth $52,000 after buying an additional 652 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of PriceSmart in the 4th quarter valued at approximately $73,000. PNC Financial Services Group Inc. boosted its stake in shares of PriceSmart by 43.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the company’s stock valued at $137,000 after purchasing an additional 523 shares in the last quarter. Finally, Guggenheim Capital LLC acquired a new stake in shares of PriceSmart in the 1st quarter valued at approximately $203,000. Institutional investors and hedge funds own 80.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSMT. TheStreet upgraded shares of PriceSmart from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Scotiabank lifted their target price on shares of PriceSmart from $77.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 11th. Finally, StockNews.com started coverage on shares of PriceSmart in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock.

PriceSmart Stock Up 1.4 %

PriceSmart stock opened at $73.73 on Tuesday. The company has a market capitalization of $2.29 billion, a PE ratio of 21.43 and a beta of 0.88. The firm’s fifty day moving average is $72.09 and its 200 day moving average is $70.07. The company has a quick ratio of 0.66, a current ratio of 1.43 and a debt-to-equity ratio of 0.12. PriceSmart, Inc. has a 12-month low of $56.29 and a 12-month high of $79.55.

PriceSmart (NASDAQ:PSMT – Get Rating) last posted its quarterly earnings results on Tuesday, April 11th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.37. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. PriceSmart had a net margin of 2.51% and a return on equity of 11.32%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share.

Insider Transactions at PriceSmart

In other PriceSmart news, Director Edgar Zurcher sold 1,300 shares of the stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $77.54, for a total transaction of $100,802.00. Following the transaction, the director now directly owns 10,168 shares in the company, valued at $788,426.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sherry S. Bahrambeygui sold 3,900 shares of PriceSmart stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $77.77, for a total value of $303,303.00. Following the completion of the transaction, the director now owns 84,495 shares of the company’s stock, valued at approximately $6,571,176.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edgar Zurcher sold 1,300 shares of PriceSmart stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $77.54, for a total value of $100,802.00. Following the completion of the sale, the director now owns 10,168 shares of the company’s stock, valued at $788,426.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,500 shares of company stock valued at $737,201. 17.40% of the stock is currently owned by corporate insiders.

About PriceSmart

(Get Rating)

PriceSmart, Inc engages in the business of managing membership shopping warehouse club concepts to emerging and developing countries. It operates through the following geographical segments: United States Operations, Central American Operations, Caribbean Operations, and Colombia Operations. The Central America Operations segment includes Panama, Guatemala, Costa Rica, El Salvador, Honduras, and Nicaragua.