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

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $109.84 and last traded at $109.13, with a volume of 2738 shares trading hands. The stock had previously closed at $108.35.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of PriceSmart from a "hold" rating to a "buy" rating in a report on Saturday, May 31st.

PriceSmart Stock Performance

The stock has a market capitalization of $3.31 billion, a P/E ratio of 23.73 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 0.43 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $99.88 and a two-hundred day moving average price of $93.57.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its earnings results on Wednesday, April 9th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.06). PriceSmart had a return on equity of 12.29% and a net margin of 2.76%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business earned $1.31 EPS. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Insider Transactions at PriceSmart

In other PriceSmart news, EVP Paul Kovaleski sold 896 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $100.85, for a total value of $90,361.60. Following the transaction, the executive vice president now owns 43,039 shares in the company, valued at approximately $4,340,483.15. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edgar Zurcher sold 390 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $102.78, for a total value of $40,084.20. Following the completion of the sale, the director now directly owns 9,279 shares of the company's stock, valued at $953,695.62. This trade represents a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,836 shares of company stock valued at $1,005,273 in the last quarter. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PriceSmart

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its holdings in PriceSmart by 560.0% during the first 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. Sterling Capital Management LLC increased its position in shares of PriceSmart by 536.7% during the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock worth $29,000 after acquiring an additional 263 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of PriceSmart in the 1st quarter worth about $42,000. Quarry LP acquired a new stake in shares of PriceSmart in the 1st quarter worth about $49,000. Finally, Heck Capital Advisors LLC bought a new position in PriceSmart in the 4th quarter valued at about $53,000. 80.46% of the stock is currently owned by institutional investors.

About PriceSmart

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.