PriceSmart Inc. (PSMT) Sees Unusually-High Trading Volume
PriceSmart Inc. (NASDAQ:PSMT) shares saw unusually-strong trading volume on Friday . Approximately 278,255 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 134,715 shares.The stock last traded at $83.30 and had previously closed at $91.55.
Several equities research analysts have recently commented on PSMT shares. TheStreet upgraded shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Friday, April 8th. Zacks Investment Research downgraded shares of PriceSmart from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, Roth Capital reiterated a “buy” rating on shares of PriceSmart in a research report on Friday, June 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $71.00.
The company has a market cap of $2.49 billion and a price-to-earnings ratio of 27.11. The stock has a 50-day moving average of $89.60 and a 200 day moving average of $82.78.
PriceSmart (NASDAQ:PSMT) last announced its quarterly earnings results on Thursday, July 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.15. The business earned $704.30 million during the quarter. During the same quarter in the prior year, the business posted $0.70 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. Analysts forecast that PriceSmart Inc. will post $3.10 earnings per share for the current year.
In other PriceSmart news, CFO John Heffner sold 3,266 shares of the stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $84.79, for a total transaction of $276,924.14. Following the transaction, the chief financial officer now owns 34,886 shares in the company, valued at approximately $2,957,983.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Martin sold 1,355 shares of the stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $81.54, for a total value of $110,486.70. Following the transaction, the insider now owns 44,322 shares in the company, valued at approximately $3,614,015.88. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of PSMT. Messner & Smith Theme Value Investment Management Ltd. CA purchased a new position in PriceSmart during the fourth quarter valued at $1,362,000. Rhumbline Advisers boosted its position in PriceSmart by 5.3% in the fourth quarter. Rhumbline Advisers now owns 22,271 shares of the company’s stock valued at $1,848,000 after buying an additional 1,120 shares during the last quarter. Nationwide Fund Advisors boosted its position in PriceSmart by 27.8% in the fourth quarter. Nationwide Fund Advisors now owns 26,842 shares of the company’s stock valued at $2,228,000 after buying an additional 5,836 shares during the last quarter. Russell Frank Co boosted its position in PriceSmart by 34.0% in the fourth quarter. Russell Frank Co now owns 28,029 shares of the company’s stock valued at $2,341,000 after buying an additional 7,110 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in PriceSmart by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 36,073 shares of the company’s stock valued at $2,994,000 after buying an additional 628 shares during the last quarter.
PriceSmart, Inc (PriceSmart) business consists primarily of international membership shopping warehouse clubs similar to warehouse clubs in the United States. The Company owns and operates United States-style membership shopping warehouse clubs through wholly owned subsidiaries operating in Latin America and the Caribbean using the trade name PriceSmart.
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