Short Interest in PriceSmart, Inc. (NASDAQ:PSMT) Expands By 17.9%

PriceSmart, Inc. (NASDAQ:PSMTGet Free Report) was the target of a significant growth in short interest in February. As of February 29th, there was short interest totalling 1,040,000 shares, a growth of 17.9% from the February 14th total of 882,100 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average daily trading volume, of 162,300 shares, the days-to-cover ratio is currently 6.4 days.

Institutional Investors Weigh In On PriceSmart

A number of institutional investors have recently modified their holdings of the business. Townsquare Capital LLC boosted its position in shares of PriceSmart by 1.0% in the fourth quarter. Townsquare Capital LLC now owns 13,063 shares of the company’s stock valued at $990,000 after acquiring an additional 131 shares during the period. SummerHaven Investment Management LLC raised its stake in PriceSmart by 1.6% in the fourth quarter. SummerHaven Investment Management LLC now owns 9,562 shares of the company’s stock valued at $725,000 after purchasing an additional 147 shares in the last quarter. Voya Investment Management LLC raised its stake in PriceSmart by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 13,412 shares of the company’s stock valued at $1,016,000 after purchasing an additional 191 shares in the last quarter. Bessemer Group Inc. raised its stake in PriceSmart by 50.1% in the second quarter. Bessemer Group Inc. now owns 578 shares of the company’s stock valued at $43,000 after purchasing an additional 193 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised 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. Institutional investors own 81.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PSMT shares. StockNews.com cut shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 11th. TheStreet raised shares of PriceSmart from a “c+” rating to a “b-” rating in a research report on Tuesday, January 30th. Finally, Jefferies Financial Group initiated coverage on shares of PriceSmart in a research report on Friday, December 1st. They set a “buy” rating and a $82.00 price objective for the company.

Check Out Our Latest Research Report on PriceSmart

PriceSmart Trading Down 0.7 %

PSMT stock opened at $80.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.25 and a quick ratio of 0.50. The company has a fifty day moving average price of $79.31 and a two-hundred day moving average price of $74.89. PriceSmart has a one year low of $61.82 and a one year high of $84.93. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 21.86 and a beta of 0.91.

PriceSmart (NASDAQ:PSMTGet Free Report) last announced its earnings results on Wednesday, January 10th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.15. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. PriceSmart had a net margin of 2.53% and a return on equity of 11.92%. PriceSmart’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. Equities analysts anticipate that PriceSmart will post 4.38 EPS for the current year.

PriceSmart Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.58 dividend. The ex-dividend date is Wednesday, August 14th. This represents a dividend yield of 1.5%. PriceSmart’s payout ratio is presently 31.44%.

PriceSmart Company Profile

(Get Free Report)

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.

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