PriceSmart (NASDAQ:PSMT) Hits New 12-Month High – Still a Buy?

PriceSmart, Inc. (NASDAQ:PSMT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $93.40 and last traded at $93.38, with a volume of 21605 shares traded. The stock had previously closed at $90.50.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PriceSmart from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th.

PriceSmart Trading Down 0.0 %

The stock has a market capitalization of $2.86 billion, a PE ratio of 22.63 and a beta of 0.84. The stock’s 50 day moving average price is $88.47 and its 200-day moving average price is $84.87. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling

In other news, CFO Michael Mccleary sold 4,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.51, for a total value of $350,040.00. Following the transaction, the chief financial officer now directly owns 67,474 shares in the company, valued at $5,904,649.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edgar Zurcher sold 795 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $87.65, for a total transaction of $69,681.75. Following the completion of the transaction, the director now directly owns 8,027 shares of the company’s stock, valued at approximately $703,566.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.51, for a total transaction of $350,040.00. Following the completion of the sale, the chief financial officer now owns 67,474 shares in the company, valued at approximately $5,904,649.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,292 shares of company stock valued at $730,367. Company insiders own 18.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PSMT. Innealta Capital LLC bought a new position in PriceSmart during the second quarter valued at approximately $28,000. Canada Pension Plan Investment Board purchased a new position in shares of PriceSmart in the second quarter valued at $32,000. GAMMA Investing LLC increased its position in PriceSmart by 76.4% in the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock worth $34,000 after purchasing an additional 181 shares during the last quarter. Covestor Ltd raised its stake in PriceSmart by 237.4% during the first quarter. Covestor Ltd now owns 442 shares of the company’s stock valued at $38,000 after purchasing an additional 311 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of PriceSmart in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

PriceSmart Company Profile

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.