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

PriceSmart, Inc. (NASDAQ:PSMT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $183.93 and last traded at $183.7350, with a volume of 5615 shares changing hands. The stock had previously closed at $182.02.

Wall Street Analysts Forecast Growth

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 research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

PriceSmart Trading Up 1.0%

The company has a market capitalization of $5.68 billion, a P/E ratio of 36.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.52 and a current ratio of 1.29. The stock has a fifty day moving average of $165.32 and a 200 day moving average of $149.86.

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

Insider Buying and Selling at PriceSmart

In other news, Director Edgar Zurcher sold 2,259 shares of the firm’s 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 sale, the director directly owned 8,151 shares in the company, valued at $1,264,790.67. This trade represents a 21.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gordon H. Hanson sold 635 shares of PriceSmart stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the transaction, the director owned 8,149 shares in the company, valued at approximately $1,284,282.40. This trade represents a 7.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,232 shares of company stock valued at $504,198 over the last 90 days. 17.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PriceSmart

A number of institutional investors and hedge funds have recently bought and sold shares of PSMT. Comerica Bank increased its holdings 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 acquiring an additional 14,475 shares during the last quarter. Victory Capital Management Inc. boosted its holdings 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 valued at $78,955,000 after purchasing an additional 175,806 shares during the last quarter. Truist Financial Corp bought a new position in shares of PriceSmart during the 4th quarter valued at about $4,393,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of PriceSmart by 24.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 489,201 shares of the company’s stock valued at $59,286,000 after purchasing an additional 97,598 shares in the last quarter. Finally, Pertento Partners LLP grew its position in shares of PriceSmart by 3.6% during the third quarter. Pertento Partners LLP now owns 416,508 shares of the company’s stock valued at $50,477,000 after purchasing an additional 14,527 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

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.