PriceSmart (PSMT) Lowered to “Sell” at BidaskClub

PriceSmart (NASDAQ:PSMT) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other equities research analysts also recently issued reports on PSMT. Zacks Investment Research downgraded PriceSmart from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Scotiabank set a $86.00 price target on PriceSmart and gave the company a “hold” rating in a report on Wednesday, July 11th. ValuEngine raised PriceSmart from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, TheStreet downgraded PriceSmart from a “b-” rating to a “c+” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.50.

Shares of PriceSmart stock opened at $69.39 on Tuesday. PriceSmart has a 1 year low of $67.02 and a 1 year high of $94.45. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 28.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.40 and a quick ratio of 0.48.

In other PriceSmart news, Director Robert E. Price sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $85.87, for a total transaction of $858,700.00. Following the completion of the sale, the director now owns 80 shares of the company’s stock, valued at approximately $6,869.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 60,000 shares of company stock valued at $4,787,500 in the last ninety days. Insiders own 28.00% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Zebra Capital Management LLC bought a new position in PriceSmart during the 2nd quarter worth $458,000. Northern Trust Corp increased its position in PriceSmart by 2.8% during the 2nd quarter. Northern Trust Corp now owns 341,337 shares of the company’s stock worth $30,891,000 after buying an additional 9,283 shares during the period. Peak Capital Management LLC bought a new position in PriceSmart during the 2nd quarter worth $1,095,000. Schwab Charles Investment Management Inc. increased its position in PriceSmart by 10.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 193,931 shares of the company’s stock worth $17,551,000 after buying an additional 17,953 shares during the period. Finally, Victory Capital Management Inc. increased its position in PriceSmart by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 5,134 shares of the company’s stock worth $465,000 after buying an additional 704 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

About PriceSmart

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of May 7, 2017, it 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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