PriceSmart (NASDAQ:PSMT) Sets New 52-Week High - Here's What Happened

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $108.54 and last traded at $106.63, with a volume of 174116 shares trading hands. The stock had previously closed at $107.10.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday.

PriceSmart Stock Down 0.5%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.43 and a current ratio of 1.26. The company's 50-day moving average price is $97.05 and its 200 day moving average price is $92.66. The stock has a market capitalization of $3.30 billion, a P/E ratio of 23.66 and a beta of 0.75.

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

Insider Buying and Selling

In other news, Director Jeffrey Fisher sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $102.21, for a total transaction of $306,630.00. Following the transaction, the director now owns 13,011 shares of the company's stock, valued at approximately $1,329,854.31. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $99.74, for a total value of $54,857.00. Following the transaction, the executive vice president now owns 78,458 shares of the company's stock, valued at approximately $7,825,400.92. The trade was a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,836 shares of company stock valued at $1,005,273 in the last ninety days. 17.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its stake in 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 acquiring an additional 252 shares in the last quarter. Sterling Capital Management LLC raised its position in PriceSmart by 536.7% during the 4th quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock valued at $29,000 after purchasing an additional 263 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of PriceSmart in the 1st quarter worth $42,000. Quarry LP purchased a new stake in shares of PriceSmart in the 1st quarter worth $49,000. Finally, Heck Capital Advisors LLC bought a new position in shares of PriceSmart during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 80.46% of the company's stock.

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.