Raymond James Financial Inc. Makes New Investment in Karooooo Ltd. (NASDAQ:KARO)

Raymond James Financial Inc. acquired a new stake in Karooooo Ltd. (NASDAQ:KARO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,054 shares of the company’s stock, valued at approximately $635,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund purchased a new stake in Karooooo in the 4th quarter worth approximately $26,000. Quadrature Capital Ltd purchased a new stake in shares of Karooooo in the third quarter valued at $216,000. Walleye Capital LLC acquired a new position in Karooooo in the third quarter valued at $323,000. Schwartz Investment Counsel Inc. lifted its position in Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock worth $2,735,000 after buying an additional 8,881 shares during the period. Finally, Capricorn Fund Managers Ltd purchased a new position in Karooooo during the fourth quarter worth about $6,146,000.

Karooooo Stock Down 4.9 %

Shares of KARO opened at $38.19 on Monday. Karooooo Ltd. has a fifty-two week low of $25.50 and a fifty-two week high of $50.54. The company’s fifty day moving average is $44.38 and its two-hundred day moving average is $43.50. The firm has a market cap of $1.18 billion, a PE ratio of 24.48 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.14.

Karooooo (NASDAQ:KARO) last issued its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. Analysts forecast that Karooooo Ltd. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Raymond James reaffirmed an “outperform” rating and set a $51.00 price objective (up previously from $46.00) on shares of Karooooo in a research note on Thursday, January 16th.

Karooooo 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.