Short Interest in PriceSmart, Inc. (NASDAQ:PSMT) Drops By 8.9%
PriceSmart, Inc. (NASDAQ:PSMT) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 769,300 shares, a drop of 8.9% from the July 31st total of 844,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 170,600 shares, the days-to-cover ratio is presently 4.5 days.
NASDAQ PSMT traded up $0.51 during midday trading on Friday, hitting $65.13. The company had a trading volume of 84,000 shares, compared to its average volume of 155,308. The company has a quick ratio of 0.45, a current ratio of 1.28 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 26.80 and a beta of 0.98. The firm has a fifty day simple moving average of $59.53 and a two-hundred day simple moving average of $57.99. PriceSmart has a fifty-two week low of $48.06 and a fifty-two week high of $88.00.
PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Wednesday, July 10th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.13. The company had revenue of $788.56 million for the quarter, compared to analyst estimates of $792.96 million. PriceSmart had a net margin of 2.23% and a return on equity of 11.19%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS.
In other PriceSmart news, major shareholder Philanthropies Foundatio Price sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the sale, the insider now directly owns 4,329,355 shares in the company, valued at approximately $253,873,377.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chong Jesus Von sold 818 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $62.41, for a total transaction of $51,051.38. Following the completion of the sale, the executive vice president now owns 25,883 shares in the company, 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 worth $2,975,331 over the last quarter. 27.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PSMT. Atria Investments LLC boosted its position in shares of PriceSmart by 18.0% during the 2nd quarter. Atria Investments LLC now owns 5,888 shares of the company’s stock valued at $342,000 after acquiring an additional 897 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of PriceSmart during the 2nd quarter valued at about $2,628,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of PriceSmart by 3.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,719,420 shares of the company’s stock valued at $190,138,000 after acquiring an additional 116,254 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of PriceSmart during the 2nd quarter valued at about $166,000. Finally, Private Capital Group LLC boosted its position in shares of PriceSmart by 142.5% during the 2nd quarter. Private Capital Group LLC now owns 308 shares of the company’s stock valued at $28,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 72.50% of the company’s stock.
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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