Meeder Asset Management Inc. Increases Position in PriceSmart, Inc. (NASDAQ:PSMT)

Meeder Asset Management Inc. lifted its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 313.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,037 shares of the company’s stock after buying an additional 1,544 shares during the period. Meeder Asset Management Inc.’s holdings in PriceSmart were worth $187,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in PriceSmart during the 1st quarter worth approximately $117,000. Sei Investments Co. raised its stake in shares of PriceSmart by 8.8% during the first quarter. Sei Investments Co. now owns 21,790 shares of the company’s stock worth $1,831,000 after purchasing an additional 1,757 shares during the last quarter. US Bancorp DE lifted its holdings in shares of PriceSmart by 5.2% during the first quarter. US Bancorp DE now owns 4,239 shares of the company’s stock worth $356,000 after purchasing an additional 209 shares during the period. ProShare Advisors LLC grew its position in PriceSmart by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 5,125 shares of the company’s stock valued at $430,000 after buying an additional 403 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in PriceSmart by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 3,424,660 shares of the company’s stock valued at $287,671,000 after buying an additional 105,405 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 670 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $89.05, for a total value of $59,663.50. Following the completion of the transaction, the executive vice president now directly owns 79,470 shares of the company’s stock, valued at $7,076,803.50. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David R. Price sold 2,750 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $92.24, for a total value of $253,660.00. Following the sale, the executive vice president now owns 48,844 shares in the company, valued at approximately $4,505,370.56. The trade was a 5.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,960 shares of company stock worth $1,535,673 over the last 90 days. Company insiders own 18.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

PriceSmart Stock Performance

NASDAQ PSMT opened at $87.99 on Wednesday. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 19.25 and a beta of 0.85. The business’s 50 day moving average is $89.99 and its two-hundred day moving average is $86.31. PriceSmart, Inc. has a 12-month low of $66.79 and a 12-month high of $94.82. The company has a current ratio of 1.22, a quick ratio of 0.45 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.07). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. PriceSmart had a return on equity of 12.63% and a net margin of 2.83%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Research analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current year.

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.