PriceSmart (NASDAQ:PSMT) Sets New 12-Month High – What’s Next?

PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $165.75 and last traded at $163.2850, with a volume of 133137 shares trading hands. The stock had previously closed at $162.90.

Analyst Ratings Changes

Separately, Weiss Ratings raised PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

PriceSmart Stock Performance

The company has a 50 day simple moving average of $153.52 and a 200-day simple moving average of $140.69. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 32.04 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.PriceSmart’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share.

Insider Transactions at PriceSmart

In other news, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of the sale, the director directly owned 8,151 shares of the company’s stock, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Francisco Velasco sold 338 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president owned 75,659 shares in the company, valued at approximately $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,232 shares of company stock worth $504,198 in the last 90 days. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Several institutional investors have recently added to or reduced their stakes in PSMT. Geneos Wealth Management Inc. lifted its holdings in PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after purchasing an additional 252 shares during the last quarter. UMB Bank n.a. grew its stake in PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. First Horizon Corp purchased a new position in PriceSmart in the 3rd quarter valued at approximately $30,000. CENTRAL TRUST Co purchased a new position in PriceSmart in the 4th quarter valued at approximately $32,000. Finally, AlphaQuest LLC grew its stake in PriceSmart by 127.5% in the 3rd quarter. AlphaQuest LLC now owns 414 shares of the company’s stock valued at $50,000 after buying an additional 232 shares in the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.