PriceSmart, Inc. (NASDAQ:PSMT) Short Interest Up 5.6% in July
PriceSmart, Inc. (NASDAQ:PSMT) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 952,400 shares, a growth of 5.6% from the June 15th total of 901,500 shares. Based on an average daily volume of 180,100 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.8% of the company’s stock are sold short.
In related news, Director Sherry S. Bahrambeygui sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $55.42, for a total value of $554,200.00. Following the completion of the transaction, the director now directly owns 154,201 shares in the company, valued at approximately $8,545,819.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chong Jesus Von sold 818 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $62.41, for a total value of $51,051.38. Following the completion of the transaction, the executive vice president now owns 25,883 shares of the company’s stock, valued at $1,615,358.03. The disclosure for this sale can be found here. Insiders sold a total of 51,818 shares of company stock valued at $2,928,331 over the last quarter. 27.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in shares of PriceSmart by 600.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 700 shares of the company’s stock valued at $41,000 after buying an additional 600 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of PriceSmart in the 1st quarter valued at approximately $58,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of PriceSmart in the 4th quarter valued at approximately $142,000. Virtu Financial LLC acquired a new stake in shares of PriceSmart in the 1st quarter valued at approximately $207,000. Finally, Two Sigma Investments LP acquired a new stake in shares of PriceSmart in the 4th quarter valued at approximately $275,000. 73.59% of the stock is owned by institutional investors.
PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, July 10th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.42 by $0.13. The company had revenue of $788.56 million during the quarter, compared to the consensus estimate of $792.96 million. PriceSmart had a return on equity of 11.19% and a net margin of 2.23%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. Analysts forecast that PriceSmart will post 2.56 EPS for the current year.
A number of equities analysts have weighed in on PSMT shares. BidaskClub raised WSFS Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Scotiabank raised PriceSmart from a “sector perform” rating to a “sector outperform” rating and set a $61.70 price target for the company in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. PriceSmart presently has a consensus rating of “Hold” and a consensus target price of $64.85.
PriceSmart Company Profile
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. Its warehouse clubs sells brand name and private label consumer goods to individuals and businesses. As of November 30, 2018, the company operated 41 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 each in Trinidad and Dominican Republic; 3 each in Guatemala and Honduras; 2 each in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.
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