PriceSmart, Inc. (PSMT) Formed Bearish Multiple Bottom; Sellers Are Thriving

December 8, 2017 - By Michael Collier

Investors sentiment increased to 2.02 in 2017 Q2. Its up 1.13, from 0.89 in 2017Q1. It increased, as 14 investors sold PriceSmart, Inc. shares while 28 reduced holdings. 21 funds opened positions while 64 raised stakes. 21.77 million shares or 0.55% more from 21.65 million shares in 2017Q1 were reported.
Zurcher Kantonalbank (Zurich Cantonalbank) reported 882 shares stake. Thomas J Herzfeld Inc accumulated 1,000 shares. Denver Inv Advisors Ltd invested 0.03% of its portfolio in PriceSmart, Inc. (NASDAQ:PSMT). Eaton Vance Management has 0.01% invested in PriceSmart, Inc. (NASDAQ:PSMT). Kayne Anderson Rudnick Investment Management Limited Liability Corporation reported 1.38M shares stake. First Midwest Retail Bank Tru Division reported 0.09% stake. Minnesota-based Us Bancshares De has invested 0.01% in PriceSmart, Inc. (NASDAQ:PSMT). C M Bidwell And Assocs Ltd owns 43 shares. Moreover, Rhumbline Advisers has 0.01% invested in PriceSmart, Inc. (NASDAQ:PSMT) for 26,442 shares. Manufacturers Life Insur The has invested 0% in PriceSmart, Inc. (NASDAQ:PSMT). Jefferies Group Incorporated Limited reported 0% in PriceSmart, Inc. (NASDAQ:PSMT). 85,831 are owned by Tiaa Cref Investment Mgmt Ltd Com. North Star Investment Management reported 1,831 shares or 0.02% of all its holdings. The Massachusetts-based Fmr Ltd Llc has invested 0.01% in PriceSmart, Inc. (NASDAQ:PSMT). 5,536 are held by First Limited Partnership.

The stock of PriceSmart, Inc. (PSMT) shows a multiple bottoms pattern with $79.57 target or 6.00 % below today’s $84.65 share price. The 8 months chart pattern indicates high risk for the $2.57B company. It was reported on Dec, 8 by Finviz.com. If the $79.57 price target is reached, the company will be worth $154.38M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 1.74% or $1.5 during the last trading session, reaching $84.65. About 96,856 shares traded. PriceSmart, Inc. (NASDAQ:PSMT) has risen 3.40% since December 8, 2016 and is uptrending. It has underperformed by 13.30% the S&P500.

Analysts await PriceSmart, Inc. (NASDAQ:PSMT) to report earnings on January, 4. They expect $0.83 earnings per share, up 1.22 % or $0.01 from last year’s $0.82 per share. PSMT’s profit will be $25.23 million for 25.50 P/E if the $0.83 EPS becomes a reality. After $0.64 actual earnings per share reported by PriceSmart, Inc. for the previous quarter, Wall Street now forecasts 29.69 % EPS growth.

PriceSmart, Inc. (NASDAQ:PSMT) Ratings Coverage

Among 2 analysts covering PriceSmart (NASDAQ:PSMT), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. PriceSmart had 5 analyst reports since September 1, 2015 according to SRatingsIntel. Roth Capital maintained the stock with “Buy” rating in Thursday, September 28 report. The firm has “Sell” rating by Zacks given on Tuesday, September 1. The rating was maintained by TH Capital with “Buy” on Monday, January 11.

More notable recent PriceSmart, Inc. (NASDAQ:PSMT) news were published by: Prnewswire.com which released: “PriceSmart Announces November Sales; also announces Earnings Release and …” on December 07, 2017, also Prnewswire.com with their article: “PriceSmart Announces May Sales; Third Quarter Earnings Release Dates Also …” published on June 07, 2017, Seekingalpha.com published: “PriceSmart – Be Smart, Hold Off For Now” on April 10, 2017. More interesting news about PriceSmart, Inc. (NASDAQ:PSMT) were released by: Fool.com and their article: “PriceSmart Inc. Maintains Its Growth Pace in Weak Market Conditions” published on October 27, 2017 as well as Fool.com‘s news article titled: “PriceSmart Inc. Grows Despite Economic Challenges” with publication date: April 07, 2017.

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