PriceSmart (NASDAQ:PSMT) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of PriceSmart (NASDAQ:PSMT - Free Report) from a buy rating to a hold rating in a report issued on Friday morning.

PriceSmart Stock Performance

Shares of PSMT traded down $1.31 during mid-day trading on Friday, reaching $105.04. 306,809 shares of the company's stock traded hands, compared to its average volume of 198,539. The business's 50-day moving average price is $104.01 and its 200-day moving average price is $94.71. The stock has a market capitalization of $3.23 billion, a P/E ratio of 22.44 and a beta of 0.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.46 and a current ratio of 1.25. PriceSmart has a 12 month low of $0.01 and a 12 month high of $109.84.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its quarterly earnings results on Wednesday, April 9th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.51 by ($0.06). The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. PriceSmart had a net margin of 2.81% and a return on equity of 12.40%. The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Equities analysts predict that PriceSmart will post 5.28 earnings per share for the current year.

Insider Activity

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $99.74, for a total value of $54,857.00. Following the transaction, the executive vice president owned 78,458 shares of the company's stock, valued at approximately $7,825,400.92. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Fisher sold 2,000 shares of PriceSmart stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $104.00, for a total transaction of $208,000.00. Following the transaction, the director owned 11,011 shares in the company, valued at approximately $1,145,144. The trade was a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,836 shares of company stock valued at $1,005,273 over the last 90 days. Corporate insiders own 17.10% of the company's stock.

Hedge Funds Weigh In On PriceSmart

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in PriceSmart by 7,364.9% during the 1st quarter. GAMMA Investing LLC now owns 69,050 shares of the company's stock worth $6,066,000 after purchasing an additional 68,125 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in PriceSmart by 522.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 113,268 shares of the company's stock worth $9,951,000 after purchasing an additional 95,073 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PriceSmart during the 4th quarter worth approximately $591,000. Deutsche Bank AG grew its position in PriceSmart by 47.0% during the 4th quarter. Deutsche Bank AG now owns 22,007 shares of the company's stock worth $2,028,000 after purchasing an additional 7,040 shares in the last quarter. Finally, River Road Asset Management LLC purchased a new position in PriceSmart during the 4th quarter worth approximately $19,078,000. 80.46% of the stock is currently owned by hedge funds and other 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.