Karooooo (NASDAQ:KARO) Reaches New 12-Month High – Here’s Why

Karooooo Ltd. (NASDAQ:KARO) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $50.01 and last traded at $49.22, with a volume of 18993 shares trading hands. The stock had previously closed at $45.82.

Karooooo Price Performance

The stock has a market capitalization of $1.03 billion, a PE ratio of 32.68 and a beta of 1.04. The firm’s fifty day moving average price is $43.40 and its two-hundred day moving average price is $38.76. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO) last announced its earnings results on Tuesday, October 15th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Karooooo had a net margin of 19.29% and a return on equity of 29.39%. The company had revenue of $60.70 million during the quarter, compared to analyst estimates of $60.26 million. On average, equities analysts predict that Karooooo Ltd. will post 1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in shares of Karooooo by 50.6% in the second quarter. Acadian Asset Management LLC now owns 4,096 shares of the company’s stock worth $116,000 after acquiring an additional 1,377 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Karooooo by 23.3% in the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock worth $520,000 after buying an additional 3,356 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Karooooo during the third quarter valued at $216,000. Gladius Capital Management LP lifted 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 purchasing an additional 8,041 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Karooooo during the 3rd quarter valued at about $323,000.

About Karooooo

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.