Harbor Capital Advisors Inc. Has $4.50 Million Holdings in PriceSmart, Inc. $PSMT

Harbor Capital Advisors Inc. decreased its holdings in PriceSmart, Inc. (NASDAQ:PSMT) by 68.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,097 shares of the company’s stock after selling 79,034 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.12% of PriceSmart worth $4,496,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSMT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of PriceSmart in the 2nd quarter valued at about $28,000. Geneos Wealth Management Inc. lifted 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 acquiring an additional 252 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of PriceSmart by 52.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Osaic Holdings Inc. boosted its holdings in PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after acquiring an additional 179 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in PriceSmart during the 2nd quarter valued at approximately $53,000. 80.46% of the stock is owned by institutional investors.

Insider Transactions at PriceSmart

In other news, COO John D. Hildebrandt sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $115.10, for a total transaction of $1,151,000.00. Following the transaction, the chief operating officer directly owned 115,615 shares of the company’s stock, valued at $13,307,286.50. This represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon H. Hanson sold 851 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $117.44, for a total value of $99,941.44. Following the completion of the transaction, the director owned 7,653 shares in the company, valued at approximately $898,768.32. This represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,706 shares of company stock valued at $1,467,980 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PSMT shares. Weiss Ratings upgraded shares of PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Wall Street Zen lowered shares of PriceSmart from a “buy” rating to a “hold” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

PriceSmart Stock Up 0.1%

PriceSmart stock opened at $123.98 on Thursday. The company has a market capitalization of $3.82 billion, a PE ratio of 25.72 and a beta of 0.76. PriceSmart, Inc. has a 12-month low of $81.25 and a 12-month high of $131.46. The firm’s fifty day moving average is $122.00 and its 200 day moving average is $114.76. The company has a quick ratio of 0.57, a current ratio of 1.34 and a debt-to-equity ratio of 0.12.

PriceSmart (NASDAQ:PSMT) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.08). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. As a group, sell-side analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

About PriceSmart

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.