PriceSmart (NASDAQ:PSMT) Hits New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of PriceSmart from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, PriceSmart currently has a consensus rating of “Buy”.

PriceSmart Stock Performance

The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 32.46 and a beta of 0.77. The company’s fifty day simple moving average is $154.53 and its 200 day simple moving average is $141.63. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares in the company, valued at $11,996,491.04. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edgar Zurcher sold 2,259 shares of the company’s stock in a transaction 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 completion of the transaction, the director owned 8,151 shares in the company, valued at approximately $1,264,790.67. This represents a 21.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,232 shares of company stock worth $504,198 over the last ninety days. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Several institutional investors and hedge funds have recently modified their holdings of PSMT. Geneos Wealth Management Inc. grew its stake in shares of PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock valued at $26,000 after acquiring an additional 252 shares in the last quarter. UMB Bank n.a. grew its stake in shares of PriceSmart by 76.0% in the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. CENTRAL TRUST Co acquired a new position in shares of PriceSmart in the fourth quarter valued at about $32,000. AlphaQuest LLC grew its stake in shares of PriceSmart by 127.5% in the third quarter. AlphaQuest LLC now owns 414 shares of the company’s stock valued at $50,000 after acquiring an additional 232 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of PriceSmart by 57.2% in the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after acquiring an additional 179 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

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.