SAN DIEGO, CA – John D. Hildebrandt, the President and Chief Operating Officer of Pricesmart Inc. (NASDAQ:PSMT), has recently sold a significant portion of his company stock, according to a new SEC filing. The transactions, which occurred between April and May, reflect a combined total sale of over $186,716 worth of shares.
The executive sold 1,715 shares at a price of $85.21 each on May 10, and another 505 shares at $80.36 per share on April 25. These sales resulted in a reduction of Hildebrandt's direct holdings in the company, though he still retains a substantial number of shares. Following the transactions, Hildebrandt's ownership stands at 138,770 shares.
Additionally, the report included a transaction coded as "F," which represents the withholding of stock to satisfy tax withholding obligations upon the vesting of restricted stock. On January 24, Hildebrandt disposed of 215 shares at a price of $76.44 each, totaling $16,434.
The filing also mentioned an "A" transaction, indicating an award of 882 restricted stock shares subject to vesting, which took place on February 2. However, this award did not have an associated monetary value at the time of the transaction.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's stock value. These sales by a top executive at Pricesmart might be of interest to current and potential shareholders, although they do not necessarily signal a change in company prospects.
Pricesmart Inc., headquartered in San Diego, California, operates membership warehouse clubs in the United States, Central America, and the Caribbean. The company continues to be a significant player in the retail variety stores sector.
InvestingPro Insights
Amidst the news of insider transactions at Pricesmart Inc. (NASDAQ:PSMT), the company's performance and financial health remain key factors for investors. According to InvestingPro data, Pricesmart currently holds a market capitalization of $2.61 billion, with a P/E ratio of 21.64. This valuation comes as the company has experienced a revenue growth of 9.98% over the last twelve months as of Q2 2024. Additionally, the company's gross profit margin stands at 17.13%, indicating its profitability in relation to sales.
An InvestingPro Tip reveals that Pricesmart has been aggressively buying back shares, a move that can often signal confidence from management in the company's future prospects and a commitment to delivering shareholder value. Another noteworthy InvestingPro Tip is that Pricesmart not only holds more cash than debt on its balance sheet but also has raised its dividend for 3 consecutive years, demonstrating financial stability and a shareholder-friendly approach.
For those interested in a deeper dive into Pricesmart's financials and strategic moves, InvestingPro provides further insights, including a total of 12 InvestingPro Tips for PSMT. Investors may find these tips particularly useful when assessing the potential impact of insider transactions on their investment decisions. To access these additional tips, visit https://www.investing.com/pro/PSMT and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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