PriceSmart (NASDAQ:PSMT) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $171.21 and traded as high as $171.70. PriceSmart shares last traded at $169.11, with a volume of 267,842 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and set a $198.00 target price on shares of PriceSmart in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart currently has a consensus rating of “Buy” and a consensus target price of $198.00.

PriceSmart Trading Up 1.5%

The company has a debt-to-equity ratio of 0.08, a current ratio of 1.28 and a quick ratio of 0.53. The business has a 50 day simple moving average of $176.11 and a 200 day simple moving average of $171.34. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 32.67 and a beta of 0.73.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Wednesday, July 8th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.04). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.43 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.16%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share.

Insider Buying and Selling at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $177.87, for a total value of $60,120.06. Following the sale, the executive vice president owned 75,321 shares of the company’s stock, valued at $13,397,346.27. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Beatriz V. Infante sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $195.98, for a total value of $156,784.00. Following the completion of the transaction, the director owned 11,210 shares of the company’s stock, valued at approximately $2,196,935.80. This represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,737 shares of company stock valued at $1,506,176 in the last 90 days. 17.00% of the stock is currently owned by company insiders.

Institutional Trading of PriceSmart

Large investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new position in shares of PriceSmart in the second quarter valued at $27,000. Bell Investment Advisors Inc bought a new position in PriceSmart during the 2nd quarter worth $40,000. Caitong International Asset Management Co. Ltd raised its holdings in PriceSmart by 45,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after acquiring an additional 456 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of PriceSmart during the 2nd quarter valued at $67,000. Finally, State of Wyoming bought a new stake in shares of PriceSmart during the 2nd quarter valued at $92,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

About PriceSmart

PriceSmart, Inc operates membership-based warehouse clubs serving consumers and businesses in markets across Central America, the Caribbean and Colombia. The company is headquartered in San Diego, California, and its shares trade on the Nasdaq under the symbol PSMT.

Its warehouse clubs offer a broad selection of products, including groceries, fresh foods, household supplies, health and beauty items, appliances, electronics, furniture, apparel and other general merchandise. PriceSmart also provides members with access to services such as optical offerings, pharmacies and selected ancillary services, depending on the market.