PriceSmart (NASDAQ:PSMT) Sets New 52-Week High – Still a Buy?

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $166.61 and last traded at $165.90, with a volume of 11452 shares changing hands. The stock had previously closed at $164.65.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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, the company currently has an average rating of “Buy”.

PriceSmart Stock Performance

The stock’s 50-day moving average price is $155.26 and its 200-day moving average price is $142.30. The company has a current ratio of 1.29, a quick ratio of 0.52 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $5.12 billion, a P/E ratio of 32.70 and a beta of 0.77.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, topping 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 analyst estimates of $1.48 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. PriceSmart’s quarterly revenue was up 9.7% on a year-over-year basis.

Insider Transactions at PriceSmart

In related news, Director Edgar Zurcher sold 2,259 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $155.17, for a total value of $350,529.03. Following the sale, the director owned 8,151 shares of the company’s stock, valued at approximately $1,264,790.67. This trade represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total value of $100,076.00. Following the transaction, the director owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. The trade was a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,232 shares of company stock worth $504,198. 17.00% of the stock is currently owned by company insiders.

Institutional Trading of PriceSmart

Several hedge funds have recently bought and sold shares of PSMT. Maryland State Retirement & Pension System grew its position in PriceSmart by 2.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,699 shares of the company’s stock worth $454,000 after purchasing an additional 73 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of PriceSmart by 14.3% during the fourth quarter. Parallel Advisors LLC now owns 590 shares of the company’s stock valued at $72,000 after buying an additional 74 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of PriceSmart by 1.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after buying an additional 93 shares during the period. Smartleaf Asset Management LLC grew its holdings in PriceSmart by 10.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after buying an additional 93 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in PriceSmart by 15.1% in the 4th quarter. Hantz Financial Services Inc. now owns 745 shares of the company’s stock worth $91,000 after buying an additional 98 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

About PriceSmart

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.