PriceSmart (PSMT) Reaches New 52-Week High at $93.60

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Shares of PriceSmart, Inc. (NASDAQ:PSMT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $93.60 and last traded at $93.05, with a volume of 1591 shares traded. The stock had previously closed at $92.85.

A number of brokerages have recently issued reports on PSMT. BidaskClub raised PriceSmart from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 18th. Zacks Investment Research lowered PriceSmart from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Finally, ValuEngine raised PriceSmart from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $92.50.

The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 30.97 and a beta of 1.19. The company has a quick ratio of 0.54, a current ratio of 1.42 and a debt-to-equity ratio of 0.11.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, April 5th. The company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.30. The company had revenue of $839.56 million for the quarter, compared to analyst estimates of $832.43 million. PriceSmart had a return on equity of 12.29% and a net margin of 2.45%. During the same quarter in the previous year, the company posted $0.90 earnings per share. research analysts anticipate that PriceSmart, Inc. will post 3.2 earnings per share for the current fiscal year.

In other news, EVP John D. Hildebrandt sold 517 shares of the company’s stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $87.68, for a total value of $45,330.56. Following the transaction, the executive vice president now owns 16,209 shares of the company’s stock, valued at approximately $1,421,205.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John D. Hildebrandt sold 400 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $91.44, for a total value of $36,576.00. Following the completion of the transaction, the executive vice president now directly owns 15,809 shares in the company, valued at approximately $1,445,574.96. The disclosure for this sale can be found here. Insiders have sold 59,433 shares of company stock worth $5,111,458 in the last three months. 28.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of PriceSmart in the 4th quarter valued at $186,000. Guggenheim Capital LLC acquired a new position in shares of PriceSmart in the 4th quarter valued at $203,000. Ellington Management Group LLC acquired a new position in shares of PriceSmart in the 4th quarter valued at $232,000. Xact Kapitalforvaltning AB acquired a new position in shares of PriceSmart in the 4th quarter valued at $246,000. Finally, Millennium Management LLC acquired a new position in shares of PriceSmart in the 4th quarter valued at $337,000. 77.88% of the stock is currently owned by institutional investors and hedge funds.

PriceSmart Company Profile

PriceSmart, Inc owns and operates the U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean. The company's warehouse clubs offer brand name and private label consumer goods to individuals and businesses. As of October 26, 2017, it operated 40 warehouse clubs comprising 7 each in Colombia and Costa Rica; 5 in Panama; 4 in Trinidad; 3 each in Guatemala, Honduras, and the Dominican Republic; 2 in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

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