Man Group plc Makes New Investment in PriceSmart, Inc. $PSMT

Man Group plc acquired a new stake in PriceSmart, Inc. (NASDAQ:PSMT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 37,587 shares of the company’s stock, valued at approximately $7,342,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in PriceSmart in the 2nd quarter worth approximately $2,384,000. Legal & General Group Plc acquired a new stake in shares of PriceSmart in the second quarter valued at approximately $11,858,000. The Manufacturers Life Insurance Company purchased a new position in PriceSmart during the second quarter worth approximately $2,734,000. Algert Global LLC lifted its position in PriceSmart by 41.2% during the second quarter. Algert Global LLC now owns 52,027 shares of the company’s stock worth $10,163,000 after buying an additional 15,180 shares in the last quarter. Finally, PEAK6 LLC acquired a new position in PriceSmart during the second quarter worth $5,134,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of PriceSmart in a report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $198.00.

PriceSmart Stock Down 2.1%

Shares of NASDAQ PSMT opened at $169.34 on Friday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 32.50 and a beta of 0.76. 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, Inc. has a 52-week low of $106.87 and a 52-week high of $199.84. The business’s 50 day moving average is $185.62 and its two-hundred day moving average is $168.05.

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

Insider Activity at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the transaction, the executive vice president directly owned 75,321 shares in the company, valued at $13,397,346.27. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director directly owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. This trade represents a 6.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,737 shares of company stock valued at $1,506,176 over the last 90 days. 17.00% of the stock is owned by corporate insiders.

PriceSmart Company 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.