BNP Paribas Financial Markets Buys New Stake in Karooooo Ltd. (NASDAQ:KARO)

BNP Paribas Financial Markets bought a new stake in Karooooo Ltd. (NASDAQ:KARO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,646 shares of the company's stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Karooooo in the fourth quarter worth $635,000. Marshall Wace LLP raised its holdings in Karooooo by 32.4% in the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock worth $1,762,000 after purchasing an additional 9,552 shares during the period. Schwartz Investment Counsel Inc. lifted its position in shares of Karooooo by 17.2% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock valued at $2,735,000 after buying an additional 8,881 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Karooooo by 1,727.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock valued at $403,000 after acquiring an additional 8,445 shares during the period. Finally, Northern Trust Corp acquired a new stake in shares of Karooooo in the fourth quarter valued at about $340,000.

Karooooo Price Performance

Shares of Karooooo stock traded down $0.48 on Monday, hitting $55.03. 20,796 shares of the company were exchanged, compared to its average volume of 33,235. The company has a 50-day moving average price of $44.58 and a 200 day moving average price of $44.96. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 35.27 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 Ltd. has a 1-year low of $25.80 and a 1-year high of $58.00.

Karooooo (NASDAQ:KARO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $65.12 million for the quarter, compared to analyst estimates of $1.18 billion. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. During the same period in the previous year, the business posted $6.81 EPS. As a group, sell-side analysts predict that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James increased their target price on Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th.

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.