PriceSmart (NASDAQ:PSMT) Shares Gap Down – Should You Sell?

Shares of PriceSmart, Inc. (NASDAQ:PSMT) gapped down prior to trading on Wednesday. The stock had previously closed at $173.11, but opened at $165.60. PriceSmart shares last traded at $165.3950, with a volume of 6,384 shares.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSMT. Weiss Ratings reiterated a “buy (b)” rating on shares of PriceSmart in a report on Wednesday, August 26th. Jefferies Financial Group reissued a “buy” rating and set a $198.00 price objective on shares of PriceSmart in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $198.00.

PriceSmart Stock Down 0.8%

The firm has a market capitalization of $5.10 billion, a P/E ratio of 30.57 and a beta of 0.73. The stock has a fifty day moving average of $171.25 and a 200-day moving average of $165.85.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Monday, October 26th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.46 billion. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS.

Insiders Place Their Bets

In other PriceSmart news, EVP Francisco Velasco sold 338 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.87, for a total transaction of $60,120.06. Following the completion of the transaction, the executive vice president owned 75,321 shares in the company, valued at approximately $13,397,346.27. This represents a 0.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sherry S. Bahrambeygui sold 3,499 shares of PriceSmart stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $197.38, for a total value of $690,632.62. Following the completion of the sale, the director directly owned 32,150 shares in the company, valued at approximately $6,345,767. This represents a 9.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,837 shares of company stock valued at $945,213. 17.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PriceSmart

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in shares of PriceSmart in the 3rd quarter valued at about $32,000. Bell Investment Advisors Inc acquired a new position in PriceSmart in the 2nd quarter valued at $40,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of PriceSmart in the 2nd quarter valued at $67,000. State of Wyoming acquired a new stake in shares of PriceSmart in the 2nd quarter valued at approximately $92,000. Finally, Fortitude Family Office LLC raised its position in PriceSmart by 1,592.9% in the third quarter. Fortitude Family Office LLC now owns 474 shares of the company’s stock valued at $80,000 after purchasing an additional 446 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

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.