PriceSmart (NASDAQ:PSMT) Reaches New 52-Week High – Should You Buy?

by · The Markets Daily

PriceSmart, Inc. (NASDAQ:PSMT – Get Free Report)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $129.76 and last traded at $129.87, with a volume of 58043 shares changing hands. The stock had previously closed at $125.95.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSMT. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings lowered PriceSmart from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Get Our Latest Stock Report on PriceSmart

PriceSmart Stock Down 1.9%

The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 26.66 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 0.57 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $121.35 and its two-hundred day moving average is $113.68.

PriceSmart (NASDAQ:PSMT – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.08). The business 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 for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insider Activity at PriceSmart

In related news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction on Monday, October 6th. The stock was sold at an average price of $122.82, for a total value of $67,551.00. Following the transaction, the executive vice president owned 80,548 shares in the company, valued at approximately $9,892,905.36. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon H. Hanson sold 851 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $117.44, for a total value of $99,941.44. Following the sale, the director directly owned 7,653 shares of the company’s stock, valued at approximately $898,768.32. This trade represents a 10.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,706 shares of company stock worth $1,467,980 in the last 90 days. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On PriceSmart

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in PriceSmart by 1.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,004 shares of the company’s stock worth $607,000 after purchasing an additional 93 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in PriceSmart by 10.9% during the second quarter. Smartleaf Asset Management LLC now owns 946 shares of the company’s stock worth $101,000 after buying an additional 93 shares during the period. KLP Kapitalforvaltning AS increased its position in shares of PriceSmart by 1.8% in the second quarter. KLP Kapitalforvaltning AS now owns 5,600 shares of the company’s stock worth $588,000 after acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of PriceSmart by 13.0% in the 2nd quarter. GAMMA Investing LLC now owns 888 shares of the company’s stock valued at $93,000 after acquiring an additional 102 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of PriceSmart by 20.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 601 shares of the company’s stock valued at $73,000 after acquiring an additional 102 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

About PriceSmart

(Get Free Report)

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.

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