PriceSmart (NASDAQ:PSMT) Reaches New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

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

PriceSmart Stock Performance

The stock has a market capitalization of $6.10 billion, a P/E ratio of 38.76 and a beta of 0.76. The stock has a 50 day simple moving average of $172.24 and a two-hundred day simple moving average of $154.50. 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. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS.

Insider Buying and Selling at PriceSmart

In other news, Director Edgar Zurcher sold 2,259 shares of the business’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 transaction, the director directly owned 8,151 shares in the company, valued at $1,264,790.67. The trade was a 21.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gordon H. Hanson sold 635 shares of the firm’s stock in a transaction dated 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 sale, the director owned 8,149 shares of the company’s stock, valued at $1,284,282.40. This trade represents a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,232 shares of company stock worth $504,198 over the last quarter. 17.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PriceSmart

Several hedge funds have recently added to or reduced their stakes in PSMT. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 252 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of PriceSmart by 76.0% during the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares during the period. CENTRAL TRUST Co bought a new stake in shares of PriceSmart during the 4th quarter worth about $32,000. Osaic Holdings Inc. grew its stake in PriceSmart by 57.2% in the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock valued at $52,000 after buying an additional 179 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in PriceSmart by 45,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 457 shares of the company’s stock valued at $56,000 after acquiring an additional 456 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.