Y Intercept Hong Kong Ltd Increases Stake in PriceSmart, Inc. $PSMT

Y Intercept Hong Kong Ltd boosted its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 51.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,180 shares of the company’s stock after purchasing an additional 2,779 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PriceSmart were worth $1,231,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSMT. UMB Bank n.a. boosted its holdings in PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after acquiring an additional 98 shares during the period. CENTRAL TRUST Co purchased a new stake in shares of PriceSmart during the fourth quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its stake in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in PriceSmart by 45,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after buying an additional 456 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares during the period. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Insiders Place Their Bets

In other news, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $155.17, for a total transaction of $350,529.03. Following the transaction, the director directly owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This represents a 21.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gordon H. Hanson sold 635 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,232 shares of company stock valued at $504,198. Insiders own 17.00% of the company’s stock.

PriceSmart Stock Up 4.3%

PriceSmart stock traded up $8.04 during trading hours on Friday, hitting $196.30. 382,033 shares of the stock traded hands, compared to its average volume of 344,015. The company has a market cap of $6.06 billion, a PE ratio of 37.68 and a beta of 0.76. The company has a current ratio of 1.28, a quick ratio of 0.52 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $175.68 and its two-hundred day moving average price is $156.61. PriceSmart, Inc. has a one year low of $103.84 and a one year high of $199.84.

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

PriceSmart Profile

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.