PriceSmart (NASDAQ:PSMT) Trading 3.1% Higher

Shares of PriceSmart, Inc. (NASDAQ:PSMT) shot up 3.1% during mid-day trading on Wednesday . The company traded as high as $80.72 and last traded at $80.61. 34,409 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 153,364 shares. The stock had previously closed at $78.20.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSMT. StockNews.com downgraded PriceSmart from a “strong-buy” rating to a “buy” rating in a research note on Saturday. TheStreet raised shares of PriceSmart from a “c+” rating to a “b-” rating in a report on Tuesday, January 30th.

PriceSmart Stock Performance

The company has a fifty day moving average of $81.71 and a 200 day moving average of $75.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.20 and a quick ratio of 0.49. The stock has a market cap of $2.45 billion, a P/E ratio of 19.65 and a beta of 0.92.

PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings data on Wednesday, April 10th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. PriceSmart had a return on equity of 11.85% and a net margin of 2.62%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts predict that PriceSmart, Inc. will post 4.38 earnings per share for the current fiscal year.

PriceSmart Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, April 18th. PriceSmart’s dividend payout ratio is currently 29.15%.

Insider Buying and Selling

In other PriceSmart news, Director Gordon H. Hanson sold 937 shares of PriceSmart stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $79.86, for a total value of $74,828.82. Following the transaction, the director now owns 7,969 shares in the company, valued at $636,404.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Gordon H. Hanson sold 937 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $79.86, for a total value of $74,828.82. Following the completion of the sale, the director now owns 7,969 shares of the company’s stock, valued at $636,404.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edgar Zurcher sold 1,075 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $79.08, for a total value of $85,011.00. Following the transaction, the director now directly owns 8,822 shares in the company, valued at $697,643.76. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

Institutional Trading of PriceSmart

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in shares of PriceSmart in the first quarter worth $37,000. Headlands Technologies LLC purchased a new stake in shares of PriceSmart during the 3rd quarter worth about $47,000. Tower Research Capital LLC TRC lifted its holdings in shares of PriceSmart by 80.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 759 shares of the company’s stock valued at $54,000 after buying an additional 338 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of PriceSmart by 30,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 912 shares of the company’s stock valued at $69,000 after buying an additional 909 shares during the last quarter. Finally, CWM LLC grew its stake in shares of PriceSmart by 331.4% in the 4th quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $79,000 after buying an additional 802 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

About PriceSmart

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.