Wall Street Zen Upgrades PriceSmart (NASDAQ:PSMT) to “Buy”

PriceSmart (NASDAQ:PSMT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of PriceSmart in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

PriceSmart Stock Up 0.1%

Shares of PSMT stock opened at $123.15 on Friday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.98 and a beta of 0.83. PriceSmart has a one year low of $81.25 and a one year high of $125.48. The company’s fifty day moving average price is $116.24 and its 200-day moving average price is $108.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 0.50.

Insider Activity at PriceSmart

In other news, EVP Michael Mccleary sold 9,754 shares of PriceSmart stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $110.62, for a total transaction of $1,078,987.48. Following the sale, the executive vice president owned 47,082 shares in the company, valued at $5,208,210.84. This trade represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $122.82, for a total transaction of $67,551.00. Following the sale, the executive vice president owned 80,548 shares in the company, valued at approximately $9,892,905.36. The trade was a 0.68% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On PriceSmart

Large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in PriceSmart in the second quarter worth $28,000. Geneos Wealth Management Inc. increased its position in PriceSmart by 560.0% in the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Mather Group LLC. bought a new stake in PriceSmart in the third quarter worth $39,000. Steward Partners Investment Advisory LLC increased its position in PriceSmart by 52.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 363 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in PriceSmart in the first quarter worth $42,000. Institutional investors own 80.46% of the company’s stock.

About PriceSmart

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.