PriceSmart (NASDAQ:PSMT) Reaches New 1-Year High – Here’s What Happened

PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high on Monday . The company traded as high as $199.84 and last traded at $198.6760, with a volume of 23744 shares. The stock had previously closed at $197.90.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, PriceSmart has a consensus rating of “Buy”.

PriceSmart Trading Down 0.2%

The stock has a market capitalization of $6.10 billion, a P/E ratio of 38.76 and a beta of 0.76. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $172.24 and a two-hundred day moving average price of $154.50.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates 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 revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share.

Insider Buying and Selling at PriceSmart

In related news, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the sale, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. This trade represents a 21.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the transaction, the director directly owned 8,149 shares in the company, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,232 shares of company stock valued at $504,198 in the last ninety days. 17.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PriceSmart

Several hedge funds and other institutional investors have recently modified their holdings of the business. Maryland State Retirement & Pension System raised its holdings in shares of PriceSmart by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after buying an additional 73 shares in the last quarter. Parallel Advisors LLC boosted its stake in PriceSmart by 14.3% in the fourth quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock valued at $72,000 after buying an additional 74 shares in the last quarter. Smartleaf Asset Management LLC grew its position in PriceSmart by 10.9% in the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock valued at $101,000 after acquiring an additional 93 shares during the last quarter. Hantz Financial Services Inc. grew its position in PriceSmart by 15.1% in the fourth quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock valued at $91,000 after acquiring an additional 98 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in PriceSmart by 76.0% during the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 80.46% of the company’s stock.

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.