Karooooo (NASDAQ:KARO) Stock Price Up 1.5% – Here’s What Happened

Shares of Karooooo Ltd. (NASDAQ:KARO) rose 1.5% on Thursday . The company traded as high as $46.00 and last traded at $45.82. Approximately 23,663 shares traded 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 stock has a market cap of $979.63 million, a price-to-earnings ratio of 31.17 and a beta of 1.04. 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 company has a 50-day simple moving average of $43.26 and a two-hundred day simple moving average of $38.71.

Karooooo (NASDAQ:KARO) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $60.26 million. As a group, equities research analysts forecast that Karooooo Ltd. will post 1.61 EPS for the current year.

Hedge Funds Weigh In On Karooooo

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its stake in Karooooo by 50.6% in the 2nd quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock valued at $116,000 after acquiring an additional 1,377 shares during the period. Quadrature Capital Ltd bought a new position in shares of Karooooo in the third quarter valued at about $216,000. Walleye Capital LLC acquired a new stake in shares of Karooooo during the 3rd quarter worth about $323,000. Gladius Capital Management LP boosted its holdings in shares of Karooooo by 124.2% during the 3rd quarter. Gladius Capital Management LP now owns 14,513 shares of the company’s stock worth $575,000 after buying an additional 8,041 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after buying an additional 3,356 shares during the last quarter.

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.