Karooooo (NASDAQ:KARO) Sees Unusually-High Trading Volume

Karooooo Ltd. (NASDAQ:KARO) shares saw an uptick in trading volume on Monday . 8,237 shares traded hands during mid-day trading, a decline of 43% from the previous session’s volume of 14,425 shares.The stock last traded at $37.78 and had previously closed at $38.11.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their target price on shares of Karooooo from $31.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th.

Karooooo Price Performance

The stock has a 50 day moving average of $36.05 and a 200-day moving average of $31.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market cap of $828.69 million, a PE ratio of 31.90 and a beta of 1.01.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Karooooo had a return on equity of 27.88% and a net margin of 18.70%. The firm had revenue of $58.29 million during the quarter, compared to analysts’ expectations of $58.54 million. Equities analysts predict that Karooooo Ltd. will post 1.48 earnings per share for the current year.

Karooooo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 11.15%. This is a boost from Karooooo’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, August 8th. Karooooo’s payout ratio is presently 340.16%.

Institutional Trading of Karooooo

A number of hedge funds and other institutional investors have recently made changes to their positions in KARO. Acadian Asset Management LLC acquired a new position in Karooooo during the first quarter valued at $67,000. Renaissance Technologies LLC lifted its holdings in shares of 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 period. Swedbank AB acquired a new position in shares of Karooooo in the 1st quarter valued at about $2,387,000. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of Karooooo by 1.2% in the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock worth $5,138,000 after buying an additional 2,000 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in Karooooo by 2.6% during the first quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock worth $4,972,000 after acquiring an additional 5,002 shares during the period.

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.