Karooooo (NASDAQ:KARO) Shares Up 1.5% – Time to Buy?

Karooooo Ltd. (NASDAQ:KARO) was up 1.5% during trading on Thursday . The company traded as high as $46.00 and last traded at $45.82. Approximately 23,663 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 22,006 shares. The stock had previously closed at $45.15.

Karooooo Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.17 and a current ratio of 1.18. The stock has a market capitalization of $1.03 billion, a PE ratio of 32.67 and a beta of 1.04. The company’s fifty day simple moving average is $43.57 and its two-hundred day simple moving average is $38.89.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $60.26 million. As a group, sell-side analysts predict that Karooooo Ltd. will post 1.61 EPS for the current year.

Institutional Trading of Karooooo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KARO. Jupiter Asset Management Ltd. lifted its holdings in Karooooo by 5.4% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 209,097 shares of the company’s stock valued at $6,001,000 after purchasing an additional 10,705 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Karooooo by 50.6% during the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after buying an additional 1,377 shares during the period. Renaissance Technologies LLC boosted its position in Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after acquiring an additional 3,356 shares during the last quarter. Gladius Capital Management LP grew its stake in Karooooo by 124.2% in the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after acquiring an additional 8,041 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Karooooo during the 3rd quarter worth $216,000.

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.