PriceSmart (NASDAQ:PSMT) Hits New 52-Week High - What's Next?

Key Points

• PriceSmart shares reached a new 52-week high of $125.41 during trading, with the last trade at $124.96 and a daily volume of 3,478 shares.
• Despite positive momentum, Wall Street analysts are mixed, with one firm downgrading PriceSmart to a "hold" rating while another reaffirmed a "buy" rating, resulting in an average rating of "buy."
• Insider trading activity includes significant stock sales by executives, with EVP Francisco Velasco selling 550 shares and EVP Michael McCleary selling 9,754 shares, indicating changes in their positions within the company.

Shares of PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $125.41 and last traded at $124.96, with a volume of 3478 shares traded. The stock had previously closed at $123.60.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PSMT shares. Wall Street Zen downgraded shares of PriceSmart from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Weiss Ratings reissued a "buy (b)" rating on shares of PriceSmart in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, PriceSmart currently has an average rating of "Buy".

PriceSmart Stock Up 1.2%

The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 26.33 and a beta of 0.83. The business's fifty day moving average is $114.43 and its two-hundred day moving average is $106.36.

Insider Buying and Selling

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the business's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $122.82, for a total transaction of $67,551.00. Following the completion of the transaction, the executive vice president owned 80,548 shares in the company, valued at $9,892,905.36. The trade was a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Mccleary sold 9,754 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the transaction, the executive vice president owned 47,082 shares of the company's stock, valued at $5,208,210.84. This trade represents a 17.16% decrease in their position. The disclosure for this sale can be found here. Insiders own 17.10% of the company's stock.

Institutional Trading of PriceSmart

Institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its position in shares of 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of PriceSmart during the 2nd quarter worth approximately $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of PriceSmart by 52.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company's stock worth $38,000 after buying an additional 125 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of PriceSmart during the 1st quarter worth approximately $42,000. Finally, Quarry LP purchased a new stake in shares of PriceSmart during the 1st quarter worth approximately $49,000. Hedge funds and other institutional investors 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.

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