Pecaut Lowers stake in PriceSmart (PSMT)

PriceSmart (PSMT) : Pecaut reduced its stake in PriceSmart by 0.18% during the most recent quarter end. The investment management company now holds a total of 27,862 shares of PriceSmart which is valued at $2,347,374 after selling 50 shares in PriceSmart , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.PriceSmart makes up approximately 2.31% of Pecaut’s portfolio.

PriceSmart closed down -0.17 points or -0.20% at $84.25 with 1,44,312 shares getting traded on Friday. Post opening the session at $83.81, the shares hit an intraday low of $83.31 and an intraday high of $84.97 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Laurel Grove Capital reduced its stake in PSMT by selling 450 shares or 3.76% in the most recent quarter. The Hedge Fund company now holds 11,528 shares of PSMT which is valued at $971,234. PriceSmart makes up approx 0.54% of Laurel Grove Capital’s portfolio.Horizon Kinetics reduced its stake in PSMT by selling 944 shares or 13.46% in the most recent quarter. The Hedge Fund company now holds 6,069 shares of PSMT which is valued at $515,744. PriceSmart makes up approx 0.01% of Horizon Kinetics’s portfolio.

On the company’s financial health, PriceSmart reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 7, 2016. Analyst had a consensus of $0.90. The company had revenue of $777.90 million for the quarter, compared to analysts expectations of $773.80 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

PriceSmart Inc. (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart. The Company’s operating segments are the United States Latin America and the Caribbean. The warehouse clubs sell basic high quality consumer goods at low prices to individuals and businesses. The no-frills warehouse club-type buildings range in size from 48000 to 100000 square feet and are located primarily in urban areas. The Company operates 36 warehouse clubs in Central America Caribbean and South America.

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