Millennium Management LLC Acquires 8,266 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Millennium Management LLC increased its stake in PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,846 shares of the company's stock after purchasing an additional 8,266 shares during the quarter. Millennium Management LLC owned 0.28% of PriceSmart worth $6,889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in PriceSmart in the second quarter worth approximately $28,000. Canada Pension Plan Investment Board purchased a new stake in PriceSmart in the second quarter worth approximately $32,000. GAMMA Investing LLC boosted its holdings in PriceSmart by 76.4% in the second quarter. GAMMA Investing LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 181 shares during the last quarter. Covestor Ltd boosted its holdings in PriceSmart by 237.4% in the first quarter. Covestor Ltd now owns 442 shares of the company's stock worth $38,000 after purchasing an additional 311 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in PriceSmart in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

PriceSmart Trading Down 1.0 %

Shares of PriceSmart stock opened at $91.11 on Friday. The company's fifty day simple moving average is $87.74 and its 200-day simple moving average is $84.61. The stock has a market capitalization of $2.79 billion, a PE ratio of 22.11 and a beta of 0.84. PriceSmart, Inc. has a 1-year low of $61.82 and a 1-year high of $93.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49.

PriceSmart (NASDAQ:PSMT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.07. PriceSmart had a net margin of 2.60% and a return on equity of 11.89%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the company posted $1.02 EPS. The company's revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that PriceSmart, Inc. will post 4.64 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of PriceSmart from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th.

Insider Activity at PriceSmart

In related news, Director Sherry S. Bahrambeygui sold 2,641 shares of PriceSmart stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $89.81, for a total transaction of $237,188.21. Following the transaction, the director now owns 47,575 shares in the company, valued at approximately $4,272,710.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Sherry S. Bahrambeygui sold 9,500 shares of PriceSmart stock in a transaction on Monday, July 15th. The shares were sold at an average price of $84.37, for a total transaction of $801,515.00. Following the transaction, the director now owns 61,216 shares in the company, valued at approximately $5,164,793.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sherry S. Bahrambeygui sold 2,641 shares of PriceSmart stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $89.81, for a total transaction of $237,188.21. Following the transaction, the director now owns 47,575 shares in the company, valued at approximately $4,272,710.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,904 shares of company stock worth $1,806,714. 18.60% of the stock is owned by corporate insiders.

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.