PriceSmart (PSMT) Downgraded to “Sell” at BidaskClub

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BidaskClub downgraded shares of PriceSmart (NASDAQ:PSMT) from a hold rating to a sell rating in a research note released on Tuesday morning.

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

Shares of PriceSmart stock opened at $68.97 on Tuesday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 23.52 and a beta of 1.09. PriceSmart has a 12-month low of $67.02 and a 12-month high of $94.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.48 and a current ratio of 1.40.

In other PriceSmart news, Director Robert E. Price sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the sale, the director now owns 80 shares of the company’s stock, valued at approximately $5,536.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jose Luis Laparte sold 22,058 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $69.19, for a total transaction of $1,526,193.02. Following the completion of the sale, the chief executive officer now directly owns 187,054 shares in the company, valued at approximately $12,942,266.26. The disclosure for this sale can be found here. In the last three months, insiders sold 82,058 shares of company stock worth $6,313,693. Insiders own 28.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of PriceSmart by 6.6% during the 3rd quarter. FMR LLC now owns 1,426,623 shares of the company’s stock valued at $115,485,000 after purchasing an additional 88,638 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in shares of PriceSmart during the 3rd quarter valued at about $277,000. BlackRock Inc. boosted its stake in shares of PriceSmart by 2.0% during the 3rd quarter. BlackRock Inc. now owns 1,505,945 shares of the company’s stock valued at $121,906,000 after purchasing an additional 29,180 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PriceSmart by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 137,265 shares of the company’s stock valued at $11,113,000 after purchasing an additional 3,205 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of PriceSmart by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,521 shares of the company’s stock valued at $609,000 after purchasing an additional 785 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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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