Kayne Anderson Rudnick Investment Management LLC Trims Stock Holdings in PriceSmart, Inc. (NASDAQ:PSMT)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 522,811 shares of the company’s stock after selling 9,429 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 1.71% of PriceSmart worth $42,452,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System lifted its position in shares of PriceSmart by 2.3% during the second quarter. Arizona State Retirement System now owns 7,293 shares of the company’s stock worth $592,000 after purchasing an additional 165 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of PriceSmart by 76.4% during the second quarter. GAMMA Investing LLC now owns 418 shares of the company’s stock valued at $34,000 after acquiring an additional 181 shares in the last quarter. SummerHaven Investment Management LLC raised its position in PriceSmart by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 9,864 shares of the company’s stock valued at $801,000 after purchasing an additional 183 shares in the last quarter. US Bancorp DE grew its position in shares of PriceSmart by 5.2% during the 1st quarter. US Bancorp DE now owns 4,239 shares of the company’s stock worth $356,000 after buying an additional 209 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of PriceSmart by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 21,918 shares of the company’s stock valued at $1,841,000 after buying an additional 292 shares during the period. Institutional investors own 80.46% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of PriceSmart from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Insider Transactions at PriceSmart

In related news, EVP David R. Price sold 2,000 shares of PriceSmart stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $87.85, for a total value of $175,700.00. Following the completion of the sale, the executive vice president now directly owns 51,768 shares in the company, valued at approximately $4,547,818.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David R. Price sold 2,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $87.85, for a total value of $175,700.00. Following the transaction, the executive vice president now directly owns 51,768 shares of the company’s stock, valued at approximately $4,547,818.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sherry S. Bahrambeygui sold 9,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $84.37, for a total value of $801,515.00. Following the completion of the transaction, the director now owns 61,216 shares of the company’s stock, valued at approximately $5,164,793.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,904 shares of company stock worth $1,806,714. Insiders own 18.60% of the company’s stock.

PriceSmart Stock Down 0.9 %

PriceSmart stock opened at $90.29 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.20 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.77 billion, a P/E ratio of 21.92 and a beta of 0.85. The business has a fifty day moving average of $87.07 and a two-hundred day moving average of $83.79. PriceSmart, Inc. has a twelve month low of $61.82 and a twelve month high of $92.76.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, July 10th. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. PriceSmart had a return on equity of 11.89% and a net margin of 2.60%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. On average, analysts forecast that PriceSmart, Inc. will post 4.64 earnings per share for the current fiscal year.

PriceSmart Profile

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.