River Road Asset Management LLC Decreases Position in PriceSmart, Inc. $PSMT

River Road Asset Management LLC reduced its stake in PriceSmart, Inc. (NASDAQ:PSMT) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 719,400 shares of the company’s stock after selling 4,761 shares during the period. River Road Asset Management LLC owned 2.33% of PriceSmart worth $88,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in shares of PriceSmart by 560.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the company’s stock worth $26,000 after buying an additional 252 shares during the last quarter. UMB Bank n.a. grew its position in shares of PriceSmart by 76.0% in the 4th quarter. UMB Bank n.a. now owns 227 shares of the company’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of PriceSmart in the 4th quarter valued at $32,000. Osaic Holdings Inc. raised its stake in PriceSmart by 57.2% during the 2nd quarter. Osaic Holdings Inc. now owns 492 shares of the company’s stock worth $52,000 after acquiring an additional 179 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in PriceSmart by 124.2% during the 1st quarter. Advisors Asset Management Inc. now owns 668 shares of the company’s stock worth $59,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of PriceSmart from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Insider Activity at PriceSmart

In related news, Director Gordon H. Hanson sold 635 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $157.60, for a total transaction of $100,076.00. Following the completion of the sale, the director owned 8,149 shares in the company, valued at $1,284,282.40. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francisco Velasco sold 338 shares of PriceSmart stock in a transaction on Friday, May 15th. The shares were sold at an average price of $158.56, for a total transaction of $53,593.28. Following the completion of the transaction, the executive vice president owned 75,659 shares in the company, valued at approximately $11,996,491.04. This represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,232 shares of company stock worth $504,198 in the last 90 days. 17.00% of the stock is owned by insiders.

PriceSmart Trading Up 2.0%

NASDAQ:PSMT opened at $182.02 on Friday. The company has a market capitalization of $5.62 billion, a PE ratio of 35.90 and a beta of 0.78. PriceSmart, Inc. has a 52-week low of $99.98 and a 52-week high of $183.19. The stock’s 50 day moving average price is $164.81 and its 200 day moving average price is $149.45. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.10.

PriceSmart (NASDAQ:PSMT) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.05. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. PriceSmart had a return on equity of 12.23% and a net margin of 2.82%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.