PriceSmart Inc. (PSMT) Sees Strong Trading Volume
PriceSmart Inc. (NASDAQ:PSMT) shares saw unusually-high trading volume on Monday . Approximately 146,490 shares were traded during trading, a decline of 11% from the previous session’s volume of 163,987 shares.The stock last traded at $80.18 and had previously closed at $79.67.
PSMT has been the topic of several analyst reports. Zacks Investment Research lowered shares of PriceSmart from a “hold” rating to a “sell” rating in a research report on Wednesday, July 13th. Roth Capital reaffirmed a “buy” rating on shares of PriceSmart in a research report on Monday, July 11th. Finally, TheStreet raised shares of PriceSmart from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. PriceSmart has a consensus rating of “Buy” and a consensus price target of $71.00.
The stock has a market cap of $2.41 billion and a P/E ratio of 27.60. The stock’s 50 day moving average price is $88.55 and its 200 day moving average price is $82.67.
PriceSmart (NASDAQ:PSMT) last issued its earnings results on Thursday, July 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.15. The business had revenue of $704.30 million for the quarter. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, equities research analysts expect that PriceSmart Inc. will post $2.92 EPS for the current year.
In other PriceSmart news, Director Robert E. Price sold 220,844 shares of the stock in a transaction dated Tuesday, May 10th. The shares were 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 directly owns 80 shares of the company’s stock, valued at $6,720. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO William J. Naylon sold 1,775 shares of the stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $85.16, for a total transaction of $151,159.00. Following the completion of the transaction, the chief operating officer now directly owns 54,176 shares of the company’s stock, valued at $4,613,628.16. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of PSMT. Morgan Stanley boosted its position in shares of PriceSmart by 724.1% in the fourth quarter. Morgan Stanley now owns 159,828 shares of the company’s stock worth $13,264,000 after buying an additional 140,434 shares during the period. Wells Fargo & Company MN raised its stake in PriceSmart by 5.0% in the fourth quarter. Wells Fargo & Company MN now owns 158,974 shares of the company’s stock valued at $13,193,000 after buying an additional 7,587 shares in the last quarter. Brown Advisory Inc. raised its stake in PriceSmart by 4.0% in the fourth quarter. Brown Advisory Inc. now owns 149,219 shares of the company’s stock valued at $12,384,000 after buying an additional 5,717 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in PriceSmart by 5.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 99,008 shares of the company’s stock valued at $8,217,000 after buying an additional 4,806 shares in the last quarter. Finally, WCM Investment Management CA raised its stake in PriceSmart by 9.2% in the fourth quarter. WCM Investment Management CA now owns 77,865 shares of the company’s stock valued at $6,462,000 after buying an additional 6,565 shares in 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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