Nipun Capital L.P. Acquires Shares of 5,700 Karooooo Ltd. (NASDAQ:KARO)

Nipun Capital L.P. purchased a new position in shares of Karooooo Ltd. (NASDAQ:KARO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,700 shares of the company's stock, valued at approximately $242,000. Karooooo makes up about 0.1% of Nipun Capital L.P.'s investment portfolio, making the stock its 10th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KARO. Raymond James Financial Inc. acquired a new position in shares of Karooooo during the 4th quarter worth approximately $635,000. Marshall Wace LLP boosted its position in shares of Karooooo by 32.4% during the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock worth $1,762,000 after buying an additional 9,552 shares during the period. Schwartz Investment Counsel Inc. boosted its holdings in 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 acquiring an additional 8,881 shares during the period. JPMorgan Chase & Co. increased its stake in Karooooo by 1,727.0% during the fourth quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock worth $403,000 after purchasing an additional 8,445 shares during the period. Finally, Northern Trust Corp acquired a new stake in Karooooo in the 4th quarter valued at about $340,000.

Analyst Upgrades and Downgrades

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

Karooooo Trading Down 0.8%

KARO stock traded down $0.48 on Thursday, hitting $57.05. 13,900 shares of the company were exchanged, compared to its average volume of 33,643. Karooooo Ltd. has a twelve month low of $25.80 and a twelve month high of $63.36. The business's fifty day moving average is $45.51 and its two-hundred day moving average is $45.28. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 36.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24.

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

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.