PriceSmart (NASDAQ:PSMT) Reaches New 12-Month High – Here’s What Happened

PriceSmart, Inc. (NASDAQ:PSMT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $126.72 and last traded at $125.8750, with a volume of 5914 shares changing hands. The stock had previously closed at $125.29.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSMT. Wall Street Zen downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of PriceSmart in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, PriceSmart currently has an average rating of “Strong Buy”.

PriceSmart Price Performance

The company has a quick ratio of 0.57, a current ratio of 1.34 and a debt-to-equity ratio of 0.12. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 26.50 and a beta of 0.76. The stock’s 50-day simple moving average is $120.68 and its 200 day simple moving average is $112.75.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. PriceSmart had a net margin of 2.81% and a return on equity of 12.34%. PriceSmart’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. On average, equities research analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current fiscal year.

Insider Activity at PriceSmart

In other PriceSmart news, EVP Francisco Velasco sold 550 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $122.82, for a total value of $67,551.00. Following the completion of the transaction, the executive vice president owned 80,548 shares of the company’s stock, valued at $9,892,905.36. This trade represents a 0.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul Kovaleski sold 1,305 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $114.55, for a total value of $149,487.75. Following the completion of the sale, the executive vice president owned 43,109 shares in the company, valued at approximately $4,938,135.95. The trade was a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,460 shares of company stock worth $2,546,968 over the last 90 days. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of PriceSmart

Large investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in PriceSmart in the third quarter worth approximately $332,000. Advisory Services Network LLC purchased a new stake in PriceSmart during the third quarter worth approximately $127,000. CANADA LIFE ASSURANCE Co boosted its holdings in PriceSmart by 1.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 28,617 shares of the company’s stock valued at $3,509,000 after purchasing an additional 452 shares in the last quarter. Progeny 3 Inc. acquired a new position in shares of PriceSmart in the 3rd quarter valued at $27,825,000. Finally, Punch & Associates Investment Management Inc. grew its holdings in shares of PriceSmart by 5.6% during the third quarter. Punch & Associates Investment Management Inc. now owns 159,681 shares of the company’s stock worth $19,352,000 after purchasing an additional 8,480 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

PriceSmart Company Profile

PriceSmart, Inc owns and operates U.S.-style membership shopping warehouse clubs in the United States, Central America, the Caribbean, and Colombia. The company provides basic and private label consumer products under the Member's Selection brand, including groceries, cleaning supplies, health and beauty aids, meat, produce, deli, seafood, and poultry.