A Reversal for PriceSmart, Inc. (PSMT) Is Near. The Formed Inverse Head & Shoulders Pattern

June 25, 2018 - By Peter Erickson

PriceSmart, Inc. (NASDAQ:PSMT) Logo

Investors sentiment decreased to 1.05 in 2018 Q1. Its down 0.26, from 1.31 in 2017Q4. It turned negative, as 21 investors sold PriceSmart, Inc. shares while 40 reduced holdings. 19 funds opened positions while 45 raised stakes. 23.30 million shares or 0.51% more from 23.19 million shares in 2017Q4 were reported.
37,000 were accumulated by Swiss Bancorp. 289 are held by Fifth Third National Bank & Trust. State Board Of Administration Of Florida Retirement Sys reported 10,805 shares or 0% of all its holdings. Retail Bank Of Mellon Corporation holds 0% of its portfolio in PriceSmart, Inc. (NASDAQ:PSMT) for 135,952 shares. Rbf Capital Ltd Liability stated it has 2,500 shares. Royal Bankshares Of Canada holds 291,051 shares or 0.01% of its portfolio. Numerixs Investment accumulated 100 shares. Wellington Mngmt Grp Llp holds 1.79 million shares or 0.03% of its portfolio. Pnc Fin Svcs Grp Inc Incorporated holds 0% or 590 shares. Stone Ridge Asset Mgmt Ltd accumulated 4,123 shares or 0.02% of the stock. Credit Suisse Ag stated it has 0% in PriceSmart, Inc. (NASDAQ:PSMT). Tci Wealth Advsr Inc reported 2,815 shares stake. Robotti Robert accumulated 5,553 shares or 0.13% of the stock. Brown Advisory Incorporated accumulated 203,424 shares. Thornburg Investment invested 0.09% in PriceSmart, Inc. (NASDAQ:PSMT).

Since April 10, 2018, it had 0 buys, and 10 sales for $5.11 million activity. Diaz Frank Ramon also sold $65,330 worth of PriceSmart, Inc. (NASDAQ:PSMT) on Monday, May 14. 3,975 shares were sold by NAYLON WILLIAM J, worth $353,420 on Friday, April 13. 10,000 shares valued at $849,730 were sold by PRICE ROBERT E on Friday, June 1. The insider HILDEBRANDT JOHN D sold 517 shares worth $45,328. Shares for $25,037 were sold by Von Chong Jesus. Laparte Jose Luis sold $701,875 worth of PriceSmart, Inc. (NASDAQ:PSMT) on Thursday, May 10.

The stock of PriceSmart, Inc. (PSMT) formed H&SI with $97.95 price target or 4.00 % above the current $94.18 share price. The 9 months Head & Shoulders Inverse reveals low risk for the $2.86 billion company. This trade was featured by Faxor.com on Jun, 25. If the $97.95 target price is reached, the company’s valuation will be $114.52M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 1.48% or $1.38 during the last trading session, reaching $94.18. About 46,979 shares traded. PriceSmart, Inc. (NASDAQ:PSMT) has declined 3.69% since June 25, 2017 and is downtrending. It has underperformed by 16.26% the S&P500.

Analysts await PriceSmart, Inc. (NASDAQ:PSMT) to report earnings on July, 4. They expect $0.69 earnings per share, up 11.29 % or $0.07 from last year’s $0.62 per share. PSMT’s profit will be $20.98 million for 34.12 P/E if the $0.69 EPS becomes a reality. After $0.89 actual earnings per share reported by PriceSmart, Inc. for the previous quarter, Wall Street now forecasts -22.47 % negative EPS growth.

PriceSmart, Inc. owns and operates membership shopping warehouse clubs in the United States, Central America, Caribbean, and Colombia. The company has market cap of $2.86 billion. The companyÂ’s warehouse clubs offer brand name and private label consumer goods to individuals and businesses. It has a 38.13 P/E ratio. As of October 6, 2017, it operated 40 warehouse clubs comprising 7 each in Costa Rica and Colombia; 5 in Panama; 4 in Trinidad; 3 each in Guatemala, Honduras, and the Dominican Republic; 2 in El Salvador and Nicaragua; and 1 each in Aruba, Barbados, Jamaica, and the United States Virgin Islands.

PriceSmart, Inc. (NASDAQ:PSMT) Institutional Positions Chart

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