PriceSmart, Inc. $PSMT Position Lifted by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its stake in PriceSmart, Inc. by 2.5% during the second quarter, owning 116,131 shares valued at approximately $12.2 million.
• Several other institutional investors have also increased their holdings significantly, with American Century Companies Inc. growing its position by 5.7% and Copeland Capital Management LLC by 25.8% during the first quarter.
• Wall Street Zen upgraded PriceSmart's rating from "hold" to "buy," suggesting a positive outlook on the company's performance.

Harbor Capital Advisors Inc. grew its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 2.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,131 shares of the company's stock after purchasing an additional 2,863 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.38% of PriceSmart worth $12,198,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG increased its position in shares of PriceSmart by 47.0% during the 4th quarter. Deutsche Bank AG now owns 22,007 shares of the company's stock valued at $2,028,000 after purchasing an additional 7,040 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of PriceSmart by 14.9% during the fourth quarter. Janus Henderson Group PLC now owns 10,813 shares of the company's stock worth $996,000 after purchasing an additional 1,400 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PriceSmart by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,269 shares of the company's stock worth $1,315,000 after buying an additional 535 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of PriceSmart in the 4th quarter worth $240,000. Finally, ProShare Advisors LLC boosted its holdings in PriceSmart by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 7,553 shares of the company's stock valued at $696,000 after acquiring an additional 2,320 shares during the period. 80.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PriceSmart

In related news, EVP Michael Mccleary sold 9,754 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total value of $1,078,987.48. Following the completion of the transaction, the executive vice president owned 47,082 shares of the company's stock, valued at approximately $5,208,210.84. The trade was a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Francisco Velasco sold 550 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the sale, the executive vice president directly owned 77,908 shares in the company, valued at $8,282,399.48. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.10% of the company's stock.

PriceSmart Stock Performance

Shares of PriceSmart stock traded down $1.98 on Friday, hitting $115.44. The stock had a trading volume of 470,756 shares, compared to its average volume of 207,047. The business's 50 day moving average is $110.21 and its two-hundred day moving average is $102.13. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. PriceSmart, Inc. has a twelve month low of $81.25 and a twelve month high of $120.99. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 24.35 and a beta of 0.79.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.31 billion. PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.PriceSmart's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. Analysts forecast that PriceSmart, Inc. will post 5.28 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised PriceSmart from a "hold" rating to a "buy" rating in a report on Friday, September 5th.

About PriceSmart

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.