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

PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during trading on Monday . The company traded as high as $197.59 and last traded at $194.6980, with a volume of 886441 shares changing hands. The stock had previously closed at $196.25.

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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, PriceSmart currently has a consensus rating of “Buy”.

PriceSmart Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The stock’s 50 day moving average price is $168.53 and its two-hundred day moving average price is $152.10. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 38.74 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT) last posted its earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. PriceSmart had a net margin of 2.82% and a return on equity of 12.23%. PriceSmart’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.45 EPS.

Insider Buying and Selling at PriceSmart

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSMT. Geneos Wealth Management Inc. lifted its holdings in shares of PriceSmart by 560.0% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during 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 worth $28,000 after acquiring an additional 98 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in shares of PriceSmart in the fourth quarter worth $32,000. Osaic Holdings Inc. increased its position in PriceSmart by 57.2% during the second quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after acquiring an additional 179 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in PriceSmart by 45,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock worth $56,000 after acquiring an additional 456 shares during the period. 80.46% of the stock is owned by institutional investors.

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.