BNP Paribas Arbitrage SA increased its stake in PriceSmart Inc. (NASDAQ:PSMT) by 110.4% during the third quarter, Holdings Channel reports. The firm owned 1,643 shares of the company’s stock after buying an additional 862 shares during the period. BNP Paribas Arbitrage SA’s holdings in PriceSmart were worth $138,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in PSMT. Vanguard Group Inc. raised its stake in PriceSmart by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,460,246 shares of the company’s stock valued at $136,635,000 after buying an additional 42,400 shares during the period. Baillie Gifford & Co. raised its stake in PriceSmart by 0.8% in the second quarter. Baillie Gifford & Co. now owns 1,401,080 shares of the company’s stock valued at $131,099,000 after buying an additional 10,623 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in PriceSmart by 3.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 993,010 shares of the company’s stock valued at $92,916,000 after buying an additional 34,080 shares during the period. Bank of Montreal Can acquired a new stake in PriceSmart during the second quarter valued at $60,005,000. Finally, Dimensional Fund Advisors LP raised its stake in PriceSmart by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 592,127 shares of the company’s stock valued at $55,402,000 after buying an additional 24,246 shares during the period. 72.69% of the stock is currently owned by institutional investors.
PriceSmart Inc. (NASDAQ:PSMT) opened at 85.47 on Wednesday. PriceSmart Inc. has a 52-week low of $68.51 and a 52-week high of $98.49. The firm has a 50-day moving average price of $82.97 and a 200 day moving average price of $84.59. The company has a market capitalization of $2.55 billion, a P/E ratio of 29.19 and a beta of 1.50.
Several analysts recently weighed in on the company. Roth Capital set a $95.00 price objective on PriceSmart and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $69.33.
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.
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