Hsbc Holdings PLC Purchases 1,562 Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Hsbc Holdings PLC lifted its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 21.0% in the second quarter, HoldingsChannel reports. The firm owned 9,010 shares of the company’s stock after purchasing an additional 1,562 shares during the quarter. Hsbc Holdings PLC’s holdings in PriceSmart were worth $726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in shares of PriceSmart by 37.2% in the 2nd quarter. Renaissance Technologies LLC now owns 106,165 shares of the company’s stock worth $8,621,000 after buying an additional 28,800 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PriceSmart by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,309,265 shares of the company’s stock worth $106,311,000 after acquiring an additional 35,390 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in PriceSmart by 46.7% during the second quarter. Envestnet Asset Management Inc. now owns 96,088 shares of the company’s stock worth $7,802,000 after acquiring an additional 30,581 shares during the last quarter. Federated Hermes Inc. raised its position in PriceSmart by 20.9% during the second quarter. Federated Hermes Inc. now owns 31,182 shares of the company’s stock valued at $2,532,000 after purchasing an additional 5,401 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in PriceSmart during the second quarter valued at approximately $40,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

PriceSmart Price Performance

PSMT stock opened at $91.31 on Monday. The stock has a market cap of $2.80 billion, a PE ratio of 22.16 and a beta of 0.85. PriceSmart, Inc. has a 12 month low of $61.82 and a 12 month high of $92.76. The company has a 50-day moving average price of $87.22 and a 200 day moving average price of $84.02. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.09.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, July 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.07. PriceSmart had a return on equity of 11.89% and a net margin of 2.60%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the business earned $1.02 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that PriceSmart, Inc. will post 4.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PriceSmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Insider Buying and Selling at PriceSmart

In other news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.51, for a total transaction of $350,040.00. Following the completion of the sale, the chief financial officer now directly owns 67,474 shares in the company, valued at $5,904,649.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Michael Mccleary sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.51, for a total value of $350,040.00. Following the transaction, the chief financial officer now owns 67,474 shares of the company’s stock, valued at approximately $5,904,649.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sherry S. Bahrambeygui sold 9,500 shares of PriceSmart stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $84.37, for a total transaction of $801,515.00. Following the sale, the director now owns 61,216 shares of the company’s stock, valued at approximately $5,164,793.92. The disclosure for this sale can be found here. Insiders have sold 20,904 shares of company stock valued at $1,806,714 in the last quarter. 18.60% of the stock is owned by insiders.

PriceSmart Profile

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.