Karooooo Ltd. (NASDAQ:KARO) Short Interest Update

Karooooo Ltd. (NASDAQ:KARO – Get Rating) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 13,200 shares, a growth of 41.9% from the March 31st total of 9,300 shares. Based on an average trading volume of 12,900 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.2% of the shares of the stock are sold short.

A number of institutional investors have recently modified their holdings of KARO. Morgan Stanley bought a new stake in shares of Karooooo during the 2nd quarter valued at $25,000. Bank of America Corp DE bought a new stake in shares of Karooooo during the 2nd quarter valued at $1,110,000. Polen Capital Management LLC boosted its holdings in shares of Karooooo by 1.1% during the 3rd quarter. Polen Capital Management LLC now owns 38,584 shares of the company’s stock valued at $1,139,000 after buying an additional 420 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Karooooo by 15.6% during the 3rd quarter. Geode Capital Management LLC now owns 13,324 shares of the company’s stock valued at $393,000 after buying an additional 1,795 shares in the last quarter. Finally, Gobi Capital LLC boosted its holdings in shares of Karooooo by 100.0% during the 3rd quarter. Gobi Capital LLC now owns 200,000 shares of the company’s stock valued at $5,904,000 after buying an additional 100,000 shares in the last quarter. 28.00% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on KARO shares. Canaccord Genuity Group boosted their target price on shares of Karooooo from $45.00 to $48.00 in a research note on Thursday, January 20th. Stifel Nicolaus reduced their price objective on shares of Karooooo from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Zacks Investment Research raised shares of Karooooo from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Finally, Canaccord Genuity Group boosted their price objective on shares of Karooooo from $45.00 to $48.00 in a research note on Thursday, January 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Karooooo presently has a consensus rating of “Buy” and an average target price of $43.16.

Karooooo stock traded down $2.29 during mid-day trading on Friday, reaching $29.70. 15,508 shares of the company’s stock were exchanged, compared to its average volume of 9,587. The company has a quick ratio of 1.93, a current ratio of 1.95 and a debt-to-equity ratio of 0.09. Karooooo has a one year low of $26.95 and a one year high of $41.60. The business’s fifty day simple moving average is $31.28 and its 200 day simple moving average is $33.18. The firm has a market capitalization of $634.99 million and a PE ratio of 28.56.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, September 2nd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 8.08%. The ex-dividend date is Thursday, September 1st.

Karooooo Company Profile (Get Rating)

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 comprehensive fleet management SaaS platform that provides real-time insights; LiveVision, which offers comprehensive pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; Communicator, a software application enabling mobile device tracking and user management; asset tracking for tracking and tracing moveable assets; asset recovery services that assists vehicle owners and insurance companies with the recovery of vehicles and other assets; and insurance telematics, which allows insurers to tailor premiums for commercial and consumer customers using analytics.

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