PriceSmart (NASDAQ:PSMT) Sets New 12-Month High – What’s Next?

Shares of PriceSmart, Inc. (NASDAQ:PSMTGet Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $165.75 and last traded at $163.2850, with a volume of 133137 shares traded. The stock had previously closed at $162.90.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart currently has an average rating of “Buy”.

Check Out Our Latest Stock Analysis on PSMT

PriceSmart Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $153.52 and a 200-day moving average price of $140.69. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 32.04 and a beta of 0.77.

PriceSmart (NASDAQ:PSMTGet Free Report) last issued its earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.57 by $0.05. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year.

Insider Transactions at PriceSmart

In other news, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the transaction, the director directly owned 8,151 shares in the company, valued at approximately $1,264,790.67. This represents a 21.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,232 shares of company stock valued at $504,198. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Large investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its holdings in PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after buying an additional 98 shares during the period. First Horizon Corp acquired a new position in PriceSmart in the third quarter valued at approximately $30,000. CENTRAL TRUST Co acquired a new stake in shares of PriceSmart in the 4th quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its position in PriceSmart by 560.0% during the 1st 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 last quarter. Finally, AlphaQuest LLC boosted its position in PriceSmart by 127.5% during the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock worth $50,000 after acquiring an additional 232 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

About PriceSmart

(Get Free Report)

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.

Further Reading

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