PriceSmart (NASDAQ:PSMT) Reaches New 1-Year High – Here’s Why

PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during trading on Friday . The stock traded as high as $183.19 and last traded at $182.4050, with a volume of 17477 shares traded. The stock had previously closed at $180.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

PriceSmart Stock Up 0.8%

The firm’s 50 day moving average is $162.01 and its two-hundred day moving average is $147.42. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 35.86 and a beta of 0.78. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis.

Insider Activity

In other news, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the transaction, the director owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,232 shares of company stock valued at $504,198 in the last 90 days. 17.00% of the stock is currently owned by insiders.

Institutional Trading of PriceSmart

A number of institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its holdings in shares of PriceSmart by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after purchasing an additional 73 shares during the period. Parallel Advisors LLC grew its holdings in shares of PriceSmart by 14.3% during the 4th quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock worth $72,000 after purchasing an additional 74 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of PriceSmart by 10.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after purchasing an additional 93 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of PriceSmart by 15.1% during the 4th quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock worth $91,000 after purchasing an additional 98 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Company Profile

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.