Shares of PriceSmart, Inc. (NASDAQ:PSMT – Get Free Report) hit a new 52-week high on Friday . The company traded as high as $183.19 and last traded at $182.4050, with a volume of 17477 shares changing hands. The stock had previously closed at $180.29.
Analyst Ratings Changes
Separately, Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, PriceSmart currently has a consensus rating of “Buy”.
Check Out Our Latest Stock Analysis on PSMT
PriceSmart Price Performance
PriceSmart (NASDAQ:PSMT – Get Free Report) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis.
Insider Buying and Selling at PriceSmart
In related news, Director Gordon H. Hanson sold 635 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value of $100,076.00. Following the sale, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This trade represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total value of $350,529.03. Following the completion of the sale, the director directly owned 8,151 shares of the company’s stock, valued at approximately $1,264,790.67. The trade was a 21.70% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,232 shares of company stock worth $504,198. Company insiders own 17.00% of the company’s stock.
Hedge Funds Weigh In On PriceSmart
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in PriceSmart by 10.4% during the 1st quarter. Bank of America Corp DE now owns 143,146 shares of the company’s stock valued at $21,543,000 after acquiring an additional 13,540 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of PriceSmart during the 1st quarter valued at about $6,075,000. Amundi bought a new stake in PriceSmart in the 1st quarter worth approximately $458,000. EverSource Wealth Advisors LLC increased its stake in PriceSmart by 22.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 651 shares of the company’s stock worth $98,000 after purchasing an additional 120 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of PriceSmart by 22.7% during the first quarter. California State Teachers Retirement System now owns 30,720 shares of the company’s stock valued at $4,623,000 after buying an additional 5,680 shares during the period. 80.46% of the stock is currently owned by institutional investors.
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.
Featured Articles
- Five stocks we like better than PriceSmart
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for PriceSmart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PriceSmart and related companies with MarketBeat.com's FREE daily email newsletter.
