Pictet Asset Management SA bought a new position in PriceSmart, Inc. (NASDAQ:PSMT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,081 shares of the company’s stock, valued at approximately $220,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PSMT. Point72 Hong Kong Ltd purchased a new stake in PriceSmart in the 1st quarter valued at about $37,000. Tower Research Capital LLC TRC increased its stake in shares of PriceSmart by 80.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock worth $54,000 after purchasing an additional 338 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of PriceSmart during the 4th quarter worth approximately $73,000. Quadrant Capital Group LLC increased its stake in shares of PriceSmart by 50.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,371 shares of the company’s stock worth $83,000 after purchasing an additional 460 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of PriceSmart by 148.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,649 shares of the company’s stock worth $100,000 after purchasing an additional 984 shares during the last quarter. Institutional investors and hedge funds own 81.19% of the company’s stock.
PriceSmart Stock Up 1.8 %
PriceSmart stock opened at $82.26 on Thursday. PriceSmart, Inc. has a 1-year low of $56.29 and a 1-year high of $82.63. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.88 and a beta of 0.90. The company has a current ratio of 1.44, a quick ratio of 0.69 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $77.22 and a 200 day simple moving average of $74.03.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on shares of PriceSmart in a research note on Thursday, August 17th. They set a “buy” rating for the company.
Insider Buying and Selling
In related news, Director Sherry S. Bahrambeygui sold 800 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $78.74, for a total value of $62,992.00. Following the completion of the transaction, the director now directly owns 83,395 shares in the company, valued at $6,566,522.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.40% of the stock is owned by company insiders.
PriceSmart, Inc owns and operates U.S. style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. Its warehouse clubs sell brand name and private label consumer products, essential goods, fresh produce, prepared foods, and fresh-baked goods, as well as provides services, such as optical, tire center, and other ancillary services.
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