PriceSmart (NASDAQ:PSMT) Stock Breaks Below 200 Day Moving Average After Insider Selling

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price passed below its 200-day moving average during trading on Tuesday after an insider sold shares in the company. The stock has a 200-day moving average of $166.54 and traded as low as $160.43. PriceSmart shares last traded at $160.61, with a volume of 293,127 shares changing hands.

Specifically, COO John Hildebrandt sold 11,834 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $168.23, for a total value of $1,990,833.82. Following the completion of the sale, the chief operating officer directly owned 101,699 shares in the company, valued at $17,108,822.77. This trade represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of analysts have commented on PSMT shares. Weiss Ratings reissued a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group reissued a “buy” rating and issued a $198.00 price objective on shares of PriceSmart in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $198.00.

PriceSmart Stock Performance

The company has a 50 day simple moving average of $170.25 and a 200-day simple moving average of $166.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.24 and a quick ratio of 0.52. The stock has a market cap of $4.97 billion, a P/E ratio of 29.74 and a beta of 0.80.

PriceSmart (NASDAQ:PSMT) last released its earnings results on Monday, October 26th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.46 billion. PriceSmart had a net margin of 2.83% and a return on equity of 12.15%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $1.02 EPS.

Hedge Funds Weigh In On PriceSmart

Several large investors have recently made changes to their positions in PSMT. BlackRock Inc. bought a new position in shares of PriceSmart in the second quarter worth approximately $814,722,000. William Blair Investment Management LLC purchased a new position in PriceSmart in the 2nd quarter worth approximately $53,157,000. Progeny 3 Inc. raised its holdings in PriceSmart by 18.5% in the 1st quarter. Progeny 3 Inc. now owns 272,100 shares of the company’s stock worth $40,951,000 after acquiring an additional 42,500 shares during the last quarter. Bank of New York Mellon Corp bought a new position in PriceSmart in the 2nd quarter valued at approximately $40,930,000. Finally, Punch & Associates Investment Management Inc. bought a new position in PriceSmart in the 2nd quarter valued at approximately $33,471,000. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Company Profile

PriceSmart, Inc operates membership warehouse clubs serving consumers and businesses in Latin America and the Caribbean. The company offers a broad selection of products at value-oriented prices, including groceries, fresh foods, beverages, household supplies, apparel, appliances, electronics, furniture and other general merchandise.

Through its warehouse clubs and digital commerce platforms, PriceSmart provides shopping and delivery options designed for both individual members and small businesses.