Wittenberg Investment Management Inc. Decreases Holdings in PriceSmart, Inc. (NASDAQ:PSMT)

Wittenberg Investment Management Inc. decreased its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 5.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,994 shares of the company’s stock after selling 875 shares during the period. Wittenberg Investment Management Inc. owned approximately 0.05% of PriceSmart worth $1,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. bought a new stake in PriceSmart in the first quarter valued at approximately $28,000. Point72 Hong Kong Ltd bought a new stake in PriceSmart during the 1st quarter valued at $37,000. Exchange Traded Concepts LLC purchased a new stake in PriceSmart during the 2nd quarter valued at $49,000. Tower Research Capital LLC TRC boosted its position in PriceSmart by 80.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock valued at $54,000 after buying an additional 338 shares during the period. Finally, Trivant Custom Portfolio Group LLC bought a new stake in PriceSmart in the 1st quarter worth $94,000. Institutional investors own 81.19% of the company’s stock.

PriceSmart Stock Performance

PSMT traded down $0.40 during midday trading on Tuesday, hitting $67.23. 6,578 shares of the company traded hands, compared to its average volume of 157,502. The company’s 50-day moving average is $72.19 and its 200 day moving average is $74.43. The company has a quick ratio of 0.64, a current ratio of 1.38 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.03 billion, a PE ratio of 19.32 and a beta of 0.89. PriceSmart, Inc. has a 52 week low of $60.01 and a 52 week high of $82.63.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Monday, October 30th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.20). PriceSmart had a net margin of 2.48% and a return on equity of 11.60%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. PriceSmart’s quarterly revenue was up 9.5% on a year-over-year basis.

Insiders Place Their Bets

In other news, Director Edgar Zurcher sold 2,236 shares of PriceSmart stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $67.04, for a total transaction of $149,901.44. Following the transaction, the director now directly owns 7,932 shares of the company’s stock, valued at approximately $531,761.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 17.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on PriceSmart in a research note on Thursday, October 5th. They set a “buy” rating on the stock.

About PriceSmart

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.