Man Group plc Acquires New Position in PriceSmart, Inc. $PSMT

Man Group plc acquired a new position in PriceSmart, Inc. (NASDAQ:PSMT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 37,587 shares of the company’s stock, valued at approximately $7,342,000. Man Group plc owned approximately 0.12% of PriceSmart at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSMT. BlackRock Inc. purchased a new position in PriceSmart during the second quarter valued at $814,722,000. State Street Corp lifted its stake in PriceSmart by 2.4% in the 2nd quarter. State Street Corp now owns 1,045,998 shares of the company’s stock worth $109,872,000 after purchasing an additional 24,512 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PriceSmart by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 763,261 shares of the company’s stock valued at $93,640,000 after purchasing an additional 7,095 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of PriceSmart by 13.3% during the 3rd quarter. Invesco Ltd. now owns 624,985 shares of the company’s stock valued at $75,742,000 after purchasing an additional 73,419 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of PriceSmart by 1.7% during the fourth quarter. Morgan Stanley now owns 495,799 shares of the company’s stock valued at $60,820,000 after purchasing an additional 8,428 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Trading Down 2.1%

Shares of NASDAQ PSMT opened at $169.34 on Friday. PriceSmart, Inc. has a twelve month low of $106.87 and a twelve month high of $199.84. The firm has a market cap of $5.23 billion, a PE ratio of 32.50 and a beta of 0.76. The business has a fifty day simple moving average of $185.62 and a two-hundred day simple moving average of $168.05. The company has a quick ratio of 0.53, a current ratio of 1.28 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, July 8th. The company reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.04). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.43 billion. PriceSmart had a return on equity of 12.16% and a net margin of 2.82%.PriceSmart’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS.

Insiders Place Their Bets

In other PriceSmart news, Director Sherry S. Bahrambeygui sold 3,499 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total transaction of $690,632.62. Following the sale, the director owned 32,150 shares of the company’s stock, valued at approximately $6,345,767. The trade was a 9.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Beatriz V. Infante sold 800 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $195.98, for a total transaction of $156,784.00. Following the sale, the director directly owned 11,210 shares in the company, valued at $2,196,935.80. This trade represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,737 shares of company stock valued at $1,506,176. 17.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSMT. Jefferies Financial Group restated a “buy” rating and issued a $198.00 price target on shares of PriceSmart in a research report on Wednesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart presently has an average rating of “Buy” and a consensus price target of $198.00.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.