PriceSmart (NASDAQ:PSMT) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

PriceSmart, Inc. (NASDAQ:PSMT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $131.40 and traded as high as $147.81. PriceSmart shares last traded at $146.43, with a volume of 194,552 shares traded.

Analyst Upgrades and Downgrades

PSMT has been the topic of a number of recent analyst reports. Weiss Ratings upgraded PriceSmart from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, March 10th. Wall Street Zen cut PriceSmart from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has an average rating of “Strong Buy”.

PriceSmart Trading Down 0.5%

The firm has a market capitalization of $4.51 billion, a P/E ratio of 29.88 and a beta of 0.73. The company has a quick ratio of 0.55, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $148.63 and its 200-day simple moving average is $131.40.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings results on Wednesday, January 7th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. PriceSmart had a net margin of 2.79% and a return on equity of 12.20%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Analysts anticipate that PriceSmart, Inc. will post 5.28 EPS for the current year.

PriceSmart Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.70 dividend. This represents a yield of 89.0%. The ex-dividend date of this dividend is Monday, August 17th. PriceSmart’s dividend payout ratio is currently 28.57%.

Insider Transactions at PriceSmart

In other PriceSmart news, Director Leon C. Janks sold 3,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the sale, the director owned 30,734 shares in the company, valued at $4,219,470.86. This trade represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John D. Hildebrandt sold 7,421 shares of PriceSmart stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $136.88, for a total value of $1,015,786.48. Following the sale, the chief operating officer directly owned 108,194 shares of the company’s stock, valued at approximately $14,809,594.72. This trade represents a 6.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,671 shares of company stock worth $2,283,051. Company insiders own 17.00% of the company’s stock.

Institutional Trading of PriceSmart

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its stake in shares of PriceSmart by 124.2% during the first quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after acquiring an additional 370 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PriceSmart by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,917 shares of the company’s stock valued at $1,310,000 after purchasing an additional 648 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of PriceSmart by 41.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 182,919 shares of the company’s stock valued at $16,069,000 after purchasing an additional 53,874 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PriceSmart by 12.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,642 shares of the company’s stock valued at $6,206,000 after purchasing an additional 7,717 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of PriceSmart by 34.7% during the 1st quarter. Intech Investment Management LLC now owns 18,673 shares of the company’s stock valued at $1,640,000 after purchasing an additional 4,806 shares during the last quarter. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.