PriceSmart (NASDAQ:PSMT) Reaches New 1-Year High – Here’s Why

PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during trading on Friday . The stock traded as high as $183.19 and last traded at $182.4050, with a volume of 17477 shares. The stock had previously closed at $180.29.

Analyst Upgrades and Downgrades

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

PriceSmart Stock Up 0.8%

The business’s 50 day moving average is $162.01 and its 200-day moving average is $147.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.29 and a quick ratio of 0.52. The company has a market cap of $5.62 billion, a PE ratio of 35.86 and a beta of 0.78.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 2.82% and a return on equity of 12.23%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share.

Insider Activity

In other news, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total value of $53,593.28. Following the transaction, the executive vice president directly owned 75,659 shares of the company’s stock, valued at $11,996,491.04. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edgar Zurcher sold 2,259 shares of PriceSmart stock in a transaction on Monday, May 4th. The shares were sold at an average price of $155.17, for a total transaction of $350,529.03. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,232 shares of company stock valued at $504,198 in the last ninety days. 17.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PriceSmart

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its position in PriceSmart by 77.2% in the 4th quarter. Comerica Bank now owns 33,224 shares of the company’s stock valued at $4,076,000 after buying an additional 14,475 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of PriceSmart by 37.0% during the 3rd quarter. Victory Capital Management Inc. now owns 651,499 shares of the company’s stock worth $78,955,000 after purchasing an additional 175,806 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of PriceSmart during the 4th quarter worth $4,393,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of PriceSmart by 24.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company’s stock worth $59,286,000 after purchasing an additional 97,598 shares in the last quarter. Finally, Pertento Partners LLP boosted its position in shares of PriceSmart by 3.6% during the 3rd quarter. Pertento Partners LLP now owns 416,508 shares of the company’s stock worth $50,477,000 after purchasing an additional 14,527 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.