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

PriceSmart, Inc. (NASDAQ:PSMT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $197.59 and last traded at $194.6980, with a volume of 886441 shares traded. The stock had previously closed at $196.25.

Analysts Set New Price Targets

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

PriceSmart Price Performance

The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $168.53 and its two-hundred day moving average price is $152.10. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 38.74 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis.

Insider Transactions at PriceSmart

In other news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the sale, the executive vice president directly owned 75,659 shares in the company, valued at $11,996,491.04. The trade was a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gordon H. Hanson sold 635 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total value 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. The trade was a 7.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,232 shares of company stock valued at $504,198 in the last three months. Corporate insiders own 17.00% of the company’s stock.

Institutional Trading of PriceSmart

A number of institutional investors have recently added to or reduced their stakes in the business. Progeny 3 Inc. acquired a new position in shares of PriceSmart during the 3rd quarter worth $27,825,000. Invesco Ltd. lifted its stake in shares of PriceSmart by 54.7% in the 2nd quarter. Invesco Ltd. now owns 551,566 shares of the company’s stock valued at $57,936,000 after purchasing an additional 194,980 shares during the last quarter. Fisher Asset Management LLC raised its holdings in PriceSmart by 821.3% during the fourth quarter. Fisher Asset Management LLC now owns 217,000 shares of the company’s stock valued at $26,619,000 after buying an additional 193,446 shares in the last quarter. Victory Capital Management Inc. raised its holdings in PriceSmart by 37.0% during the third quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock valued at $78,955,000 after buying an additional 175,806 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of PriceSmart by 5,150.6% in the third quarter. Millennium Management LLC now owns 114,936 shares of the company’s stock worth $13,929,000 after buying an additional 112,747 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.