PriceSmart Inc. (PSMT) Sees Unusually-High Trading Volume
PriceSmart Inc. (NASDAQ:PSMT) shares saw an uptick in trading volume on Friday . 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.
A number of brokerages have recently commented on PSMT. Zacks Investment Research raised shares of PriceSmart from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Tuesday, April 12th. Roth Capital reaffirmed a “buy” rating on shares of PriceSmart in a report on Friday, June 10th. Finally, TheStreet raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research note on Friday, April 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.00.
The stock has a 50 day moving average price of $89.79 and a 200-day moving average price of $82.78. The firm has a market capitalization of $2.49 billion and a PE ratio of 27.11.
PriceSmart (NASDAQ:PSMT) last released its earnings results on Thursday, July 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by $0.15. During the same quarter last year, the company earned $0.70 EPS. The company earned $704.30 million during the quarter. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts expect that PriceSmart Inc. will post $3.10 earnings per share for the current year.
In related news, Director Robert E. Price sold 220,844 shares of the stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $84.00, for a total value of $18,550,896.00. Following the completion of the transaction, the director now owns 80 shares in the company, valued at approximately $6,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William J. Naylon sold 1,775 shares of the stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $85.16, for a total value of $151,159.00. Following the completion of the transaction, the chief operating officer now owns 54,176 shares of the company’s stock, valued at approximately $4,613,628.16. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in PSMT. Messner & Smith Theme Value Investment Management Ltd. CA bought a new position in PriceSmart during the fourth quarter worth $1,362,000. Rhumbline Advisers raised its position in PriceSmart by 5.3% in the fourth quarter. Rhumbline Advisers now owns 22,271 shares of the company’s stock worth $1,848,000 after buying an additional 1,120 shares during the period. Nationwide Fund Advisors raised its position in PriceSmart by 27.8% in the fourth quarter. Nationwide Fund Advisors now owns 26,842 shares of the company’s stock worth $2,228,000 after buying an additional 5,836 shares during the period. Russell Frank Co raised its position in PriceSmart by 34.0% in the fourth quarter. Russell Frank Co now owns 28,029 shares of the company’s stock worth $2,341,000 after buying an additional 7,110 shares during the period. Finally, California State Teachers Retirement System raised 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 worth $2,994,000 after buying an additional 628 shares during the period.
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.