Karooooo Ltd. (NASDAQ:KARO – Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 21,000 shares, a decrease of 5.8% from the August 15th total of 22,300 shares. Based on an average trading volume of 26,100 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.3% of the shares of the stock are sold short.
Karooooo Stock Down 6.0 %
NASDAQ KARO opened at $38.76 on Thursday. The company has a market capitalization of $828.69 million, a P/E ratio of 30.52 and a beta of 1.01. The stock has a 50 day moving average price of $36.21 and a 200-day moving average price of $31.09. Karooooo has a one year low of $18.59 and a one year high of $43.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.52.
Karooooo (NASDAQ:KARO – Get Free Report) last issued its earnings results on Thursday, July 18th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Karooooo had a net margin of 18.70% and a return on equity of 27.88%. The business had revenue of $58.29 million for the quarter, compared to analyst estimates of $58.54 million. As a group, equities analysts predict that Karooooo will post 1.48 EPS for the current fiscal year.
Karooooo Increases Dividend
Institutional Trading of Karooooo
Several institutional investors and hedge funds have recently modified their holdings of KARO. Swedbank AB bought a new stake in shares of Karooooo during the first quarter valued at approximately $2,387,000. Jupiter Asset Management Ltd. raised its stake in shares of Karooooo by 5.4% during the second quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock valued at $6,001,000 after acquiring an additional 10,705 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after purchasing an additional 3,356 shares during the period. Acadian Asset Management LLC bought a new position in shares of Karooooo during the first quarter valued at approximately $67,000. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in Karooooo by 1.2% during the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after buying an additional 2,000 shares during the period.
Wall Street Analyst Weigh In
Separately, Morgan Stanley increased their target price on Karooooo from $31.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th.
Get Our Latest Research Report on KARO
Karooooo Company Profile
Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.
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