PriceSmart (NASDAQ:PSMT) Hits New 1-Year High - Here's Why

Key Points

• PriceSmart's stock reached a new 52-week high of $123.21 on Friday, closing at $122.68 with a trading volume of 46,379 shares.
• Analyst ratings show mixed sentiment, with Wall Street Zen downgrading PriceSmart from a "buy" to a "hold," while Weiss Ratings maintains a "buy" rating.
• Insider trading activity indicates a significant sell-off, with two executives offloading shares, resulting in a decrease in their ownership positions.

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $123.21 and last traded at $122.68, with a volume of 46379 shares changing hands. The stock had previously closed at $121.61.

Analyst Ratings Changes

PSMT has been the subject of a number of research analyst reports. Wall Street Zen cut PriceSmart from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings restated a "buy (b)" rating on shares of PriceSmart in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

PriceSmart Stock Performance

The company's 50-day simple moving average is $112.62 and its 200-day simple moving average is $104.48. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 26.00 and a beta of 0.83.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). PriceSmart had a return on equity of 12.46% and a net margin of 2.82%.The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.08 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insiders Place Their Bets

In other PriceSmart news, EVP Michael Mccleary sold 9,754 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the sale, the executive vice president owned 47,082 shares of the company's stock, valued at $5,208,210.84. The trade was a 17.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction on Monday, July 7th. The shares were sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the transaction, the executive vice president owned 77,908 shares of the company's stock, valued at approximately $8,282,399.48. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On PriceSmart

Several hedge funds have recently bought and sold shares of PSMT. Geneos Wealth Management Inc. increased its holdings in shares of PriceSmart by 560.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company's stock worth $26,000 after buying an additional 252 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in PriceSmart in the second quarter valued at $28,000. Steward Partners Investment Advisory LLC raised its position in PriceSmart by 52.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company's stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in PriceSmart during the first quarter valued at about $42,000. Finally, Quarry LP bought a new stake in PriceSmart during the first quarter worth about $49,000. 80.46% of the stock is currently owned by institutional investors.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.

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