Kayne Anderson Rudnick Investment Management LLC Purchases 132,555 Shares of PriceSmart, Inc. (PSMT)

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of PriceSmart, Inc. (NASDAQ:PSMT) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,511,335 shares of the company’s stock after purchasing an additional 132,555 shares during the quarter. PriceSmart makes up about 1.2% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 20th largest position. Kayne Anderson Rudnick Investment Management LLC owned 4.97% of PriceSmart worth $134,887,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisor Group Inc. boosted its holdings in PriceSmart by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 2,433 shares of the company’s stock valued at $213,000 after acquiring an additional 39 shares during the period. Principal Financial Group Inc. boosted its holdings in PriceSmart by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 2,857 shares of the company’s stock valued at $263,000 after acquiring an additional 81 shares during the period. First Midwest Bank Trust Division boosted its holdings in PriceSmart by 2.3% during the 2nd quarter. First Midwest Bank Trust Division now owns 8,694 shares of the company’s stock valued at $762,000 after acquiring an additional 199 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in PriceSmart by 16.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,464 shares of the company’s stock valued at $128,000 after acquiring an additional 206 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in PriceSmart by 12.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,940 shares of the company’s stock valued at $170,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 73.68% of the company’s stock.

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In other news, CEO Jose Luis Laparte sold 12,772 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $82.58, for a total value of $1,054,711.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sherry S. Bahrambeygui sold 16,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $81.55, for a total value of $1,321,110.00. Following the completion of the transaction, the director now owns 125,813 shares of the company’s stock, valued at approximately $10,260,050.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,597 shares of company stock valued at $3,491,662. Company insiders own 28.00% of the company’s stock.

PriceSmart, Inc. (NASDAQ PSMT) traded up $0.05 during midday trading on Wednesday, reaching $80.30. The company’s stock had a trading volume of 135,800 shares, compared to its average volume of 120,377. PriceSmart, Inc. has a 1-year low of $78.00 and a 1-year high of $94.00. The company has a current ratio of 1.40, a quick ratio of 0.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2,439.65, a PE ratio of 26.93 and a beta of 1.33.

PriceSmart (NASDAQ:PSMT) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). PriceSmart had a return on equity of 13.32% and a net margin of 3.03%. The business had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $733.64 million. During the same quarter last year, the business posted $0.74 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. equities analysts forecast that PriceSmart, Inc. will post 3.2 EPS for the current year.

Several equities research analysts recently weighed in on the company. BidaskClub upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Monday, July 24th. TheStreet upgraded PriceSmart from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Roth Capital restated a “buy” rating and set a $100.00 target price on shares of PriceSmart in a report on Monday, October 2nd. Zacks Investment Research upgraded PriceSmart from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Ifs Securities assumed coverage on PriceSmart in a report on Monday, September 25th. They set a “market perform” rating and a $85.00 target price for the company. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. PriceSmart currently has an average rating of “Hold” and an average price target of $92.50.

PriceSmart Profile

PriceSmart, Inc, through its subsidiaries, is engaged in the international operation of membership shopping in warehouse clubs. In addition, the Company operates distribution centers and offices in the United States. The Company’s segments include the United States, Central America, the Caribbean and Colombia.

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Institutional Ownership by Quarter for PriceSmart (NASDAQ:PSMT)

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