Sherry S. Bahrambeygui, a director at Pricesmart Inc (NASDAQ:PSMT), has recently sold a significant amount of company stock, according to the latest SEC filings. The transaction, which took place on April 29, involved the sale of 5,201 shares at a weighted average price of $82.826 per share, totaling approximately $430,778.
The shares were sold in multiple trades with prices ranging from $82.800 to $82.860 per share. Following the sale, Bahrambeygui still holds a substantial number of shares directly and indirectly. Directly, she owns 93,307 shares of Pricesmart. Additionally, the Hosey Family Trust, in which Bahrambeygui serves as co-trustee, holds 43,728 shares. She also has an indirect interest in 1,000 shares held in a joint account with her son.
It's important to note that Bahrambeygui disclaims beneficial ownership of the shares held indirectly, except to the extent of her pecuniary interest therein, as indicated in the footnotes of the SEC filing.
Pricesmart Inc, headquartered in San Diego, California, operates membership warehouse clubs in the United States, Central America, and the Caribbean. The company's stock trades under the ticker symbol PSMT on the NASDAQ exchange.
Investors often monitor the buying and selling activity of company insiders as it can provide insights into their perspective on the company's current valuation and future prospects. However, such transactions can also be part of personal financial management strategies that are not necessarily indicative of the company's performance.
The SEC filing did not include any derivative securities transactions for Bahrambeygui. The reported sale represents a significant transaction for the executive and provides the latest insight into insider activity at Pricesmart Inc.
InvestingPro Insights
Amidst the recent insider selling activity at Pricesmart Inc (NASDAQ:PSMT), investors may find it useful to consider key financial metrics and trends that could influence the company's stock value. As of the last twelve months leading up to Q2 2024, Pricesmart's market capitalization stands at a robust $2.44 billion, with a P/E ratio indicating investors are paying $20.43 for every dollar of earnings, which is slightly adjusted downwards to 18.75 when considering the same period.
The company has demonstrated a commendable revenue growth of nearly 10% during this period, signaling a positive trajectory in its business operations. Moreover, Pricesmart's ability to raise its dividend consistently over the past three years, coupled with a dividend growth of 26.09% in the last twelve months as of Q2 2024, reflects a strong commitment to returning value to shareholders. Notably, the company has maintained dividend payments for an impressive 18 consecutive years.
InvestingPro Tips highlight that Pricesmart holds more cash than debt on its balance sheet and that its cash flows can sufficiently cover interest payments, offering a glimpse of financial stability and prudence. Moreover, the company's management has been actively engaged in share buybacks, a move that often signals confidence in the company's future and a shareholder-friendly approach. With analysts predicting profitability for the year and a large price uptick of 28.37% over the last six months, Pricesmart appears to be on a strong footing.
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