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

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

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, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

PriceSmart Trading Down 1.1%

The business’s 50 day moving average price is $173.50 and its 200-day moving average price is $155.42. 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 cap of $5.93 billion, a price-to-earnings ratio of 37.86 and a beta of 0.76.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 EPS.

Insider Transactions at PriceSmart

In related news, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director directly owned 8,149 shares of the company’s stock, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edgar Zurcher sold 2,259 shares of the stock in a transaction 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 transaction, the director owned 8,151 shares in the company, valued at $1,264,790.67. The trade was a 21.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,232 shares of company stock worth $504,198. Company insiders own 17.00% of the company’s stock.

Institutional Trading of PriceSmart

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its position 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 buying an additional 252 shares in the last quarter. UMB Bank n.a. grew its position in PriceSmart by 76.0% during the fourth quarter. UMB Bank n.a. now owns 227 shares of the company’s stock worth $28,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co bought a new position in PriceSmart during the 4th quarter worth $32,000. Osaic Holdings Inc. increased its stake in PriceSmart by 57.2% during the 2nd 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 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 in the last quarter. Institutional investors own 80.46% of the company’s stock.

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.