PriceSmart, Inc. $PSMT Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its position in PriceSmart, Inc. by 9.5% in the first quarter, now owning 397,825 shares valued at approximately $34.95 million.
• Several large investors, including Dimensional Fund Advisors and American Century Companies, increased their stakes in PriceSmart, demonstrating mixed trends among institutional investors.
• PriceSmart reported $1.14 earnings per share for the latest quarter, missing estimates slightly, while revenue increased by 7.1% compared to the same period last year.

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of PriceSmart, Inc. (NASDAQ:PSMT - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 397,825 shares of the company's stock after selling 41,986 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 1.29% of PriceSmart worth $34,949,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of PriceSmart during the 1st quarter worth approximately $42,000. Heck Capital Advisors LLC bought a new position in PriceSmart during the fourth quarter worth $53,000. Fifth Third Bancorp lifted its stake in shares of PriceSmart by 119.7% in the first quarter. Fifth Third Bancorp now owns 635 shares of the company's stock valued at $56,000 after buying an additional 346 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of PriceSmart by 24.3% during the first quarter. First Horizon Advisors Inc. now owns 654 shares of the company's stock valued at $57,000 after purchasing an additional 128 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of PriceSmart by 19.3% during the first quarter. Smartleaf Asset Management LLC now owns 853 shares of the company's stock valued at $73,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 80.46% of the company's stock.

PriceSmart Stock Down 0.7%

NASDAQ:PSMT traded down $0.80 during mid-day trading on Friday, reaching $107.26. The company's stock had a trading volume of 146,485 shares, compared to its average volume of 183,413. The firm has a market capitalization of $3.30 billion, a PE ratio of 22.63 and a beta of 0.77. The stock has a fifty day moving average of $107.89 and a 200-day moving average of $99.77. PriceSmart, Inc. has a 1 year low of $81.25 and a 1 year high of $114.01. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.07.

PriceSmart (NASDAQ:PSMT - Get Free Report) last posted its quarterly earnings data on Thursday, July 10th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). PriceSmart had a net margin of 2.82% and a return on equity of 12.46%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $1.08 EPS. The business's revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that PriceSmart, Inc. will post 5.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of PriceSmart from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd.

Insiders Place Their Bets

In other news, EVP Francisco Velasco sold 550 shares of PriceSmart stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $106.31, for a total value of $58,470.50. Following the completion of the transaction, the executive vice president owned 77,908 shares in the company, valued at approximately $8,282,399.48. This trade represents a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.10% of the stock is currently owned by corporate insiders.

PriceSmart Company 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.