PriceSmart, Inc. Stock Drops 1.8% Following Same Store Sales Report (NASDAQ:PSMT)

PriceSmart’s (NASDAQ:PSMT) same-store sales rose 2.8% in the month of September. PriceSmart’s stock dropped by 1.8% in the first full-day of trading following the news.

A number of equities analysts have recently issued reports on PSMT shares. Roth Capital reiterated a “buy” rating and set a $100.00 price objective on shares of PriceSmart in a research note on Monday, October 2nd. BidaskClub upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Ifs Securities started coverage on shares of PriceSmart in a research note on Monday, September 25th. They set a “market perform” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded shares of PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, TheStreet downgraded shares of PriceSmart from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $92.50.

In related news, Director Sherry S. Bahrambeygui sold 3,561 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $84.88, for a total transaction of $302,257.68. Following the transaction, the director now directly owns 125,374 shares in the company, valued at $10,641,745.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.00% of the stock is owned by insiders.

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PriceSmart (NASDAQ PSMT) opened at 89.15 on Wednesday. The firm has a 50-day moving average of $86.49 and a 200 day moving average of $86.24. PriceSmart has a 12-month low of $78.00 and a 12-month high of $94.40. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 29.14 and a beta of 1.26.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSMT. Citigroup Inc. lifted its position in PriceSmart by 18.5% during the second quarter. Citigroup Inc. now owns 1,411 shares of the company’s stock valued at $124,000 after buying an additional 220 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of PriceSmart by 16.4% during the second quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after purchasing an additional 206 shares during the period. SG Americas Securities LLC purchased a new stake in shares of PriceSmart during the first quarter valued at approximately $135,000. Victory Capital Management Inc. raised its stake in shares of PriceSmart by 23.8% during the first quarter. Victory Capital Management Inc. now owns 1,670 shares of the company’s stock valued at $154,000 after purchasing an additional 321 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of PriceSmart during the first quarter valued at approximately $160,000. 71.98% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.

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