PriceSmart (NASDAQ:PSMT) Shares Gap Down - What's Next?

PriceSmart, Inc. (NASDAQ:PSMT - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $93.45, but opened at $82.03. PriceSmart shares last traded at $89.42, with a volume of 32,196 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised PriceSmart from a "hold" rating to a "buy" rating in a research note on Saturday, November 30th.

PriceSmart Stock Performance

The stock's fifty day simple moving average is $91.47 and its 200-day simple moving average is $88.65. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 19.53 and a beta of 0.86. The company has a current ratio of 1.22, a quick ratio of 0.45 and a debt-to-equity ratio of 0.08.

PriceSmart (NASDAQ:PSMT - Get Free Report) last released its earnings results on Wednesday, January 8th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.22). The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. PriceSmart had a return on equity of 12.63% and a net margin of 2.83%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.24 earnings per share. Analysts predict that PriceSmart, Inc. will post 5.28 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Michael Mccleary sold 4,000 shares of PriceSmart stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $89.62, for a total transaction of $358,480.00. Following the sale, the chief financial officer now owns 62,141 shares in the company, valued at approximately $5,569,076.42. The trade was a 6.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Kovaleski sold 3,235 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $89.96, for a total value of $291,020.60. Following the completion of the sale, the executive vice president now directly owns 44,309 shares of the company's stock, valued at $3,986,037.64. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,463 shares of company stock worth $1,400,727 in the last 90 days. Corporate insiders own 17.10% of the company's stock.

Institutional Investors Weigh In On PriceSmart

Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in PriceSmart in the second quarter valued at about $32,000. Meeder Asset Management Inc. purchased a new stake in shares of PriceSmart in the second quarter valued at approximately $40,000. GAMMA Investing LLC grew its holdings in PriceSmart by 96.9% during the third quarter. GAMMA Investing LLC now owns 823 shares of the company's stock worth $76,000 after acquiring an additional 405 shares during the period. nVerses Capital LLC raised its position in PriceSmart by 66.7% in the third quarter. nVerses Capital LLC now owns 1,000 shares of the company's stock worth $92,000 after acquiring an additional 400 shares in the last quarter. Finally, Blue Trust Inc. raised its position in PriceSmart by 423.1% in the third quarter. Blue Trust Inc. now owns 1,041 shares of the company's stock worth $96,000 after acquiring an additional 842 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

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.