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

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $113.59 and last traded at $107.30, with a volume of 37567 shares. The stock had previously closed at $102.70.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded PriceSmart from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.

PriceSmart Price Performance

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 company has a fifty day moving average price of $105.14 and a two-hundred day moving average price of $95.49. The firm has a market cap of $3.28 billion, a P/E ratio of 22.48 and a beta of 0.78.

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

Insider Transactions at PriceSmart

In other news, Director Edgar Zurcher sold 390 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $102.78, for a total transaction of $40,084.20. Following the completion of the transaction, the director directly owned 9,279 shares of the company's stock, valued at $953,695.62. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Francisco Velasco sold 550 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the transaction, the executive vice president directly 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,386 shares of company stock worth $1,063,743. 17.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its position in PriceSmart by 560.0% during 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 in the last quarter. Sterling Capital Management LLC increased its position in shares of PriceSmart by 536.7% in the fourth quarter. Sterling Capital Management LLC now owns 312 shares of the company's stock valued at $29,000 after acquiring an additional 263 shares during the last quarter. Ridgewood Investments LLC bought a new stake in PriceSmart during the first quarter worth about $42,000. Quarry LP bought a new stake in PriceSmart during the first quarter worth about $49,000. Finally, Heck Capital Advisors LLC acquired a new position in PriceSmart during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.46% of the company's stock.

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.