Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Trading Down 0.5% - Here's What Happened

Key Points

• Joint Stock Company Kaspi.kz shares fell 0.5% during mid-day trading, closing at $84.00 after reaching a low of $83.17, accompanied by a trading volume decline of 32% compared to the average.
• JPMorgan Chase & Co. reiterated a "neutral" rating for Kaspi.kz with a target price of $96.00, while the stock currently holds a consensus rating of "Moderate Buy" and an average price target of $122.00.
• Institutional investors now own 32.20% of Kaspi.kz shares, with several hedge funds increasing their stakes significantly in recent quarters.

Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report)'s share price dropped 0.5% during mid-day trading on Thursday . The company traded as low as $83.17 and last traded at $84.00. Approximately 260,067 shares were traded during trading, a decline of 32% from the average daily volume of 379,813 shares. The stock had previously closed at $84.38.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. restated a "neutral" rating and set a $96.00 target price on shares of Joint Stock Company Kaspi.kz in a report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

Joint Stock Company Kaspi.kz Trading Down 0.5%

The company has a market cap of $16.76 billion, a P/E ratio of 7.71 and a beta of 1.09. The stock's 50 day moving average is $88.95 and its 200-day moving average is $87.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Joint Stock Company Kaspi.kz

A number of hedge funds have recently bought and sold shares of KSPI. Quantbot Technologies LP bought a new position in Joint Stock Company Kaspi.kz in the 1st quarter worth about $110,000. Flossbach Von Storch SE boosted its stake in Joint Stock Company Kaspi.kz by 66.7% in the 1st quarter. Flossbach Von Storch SE now owns 25,000 shares of the company's stock worth $2,321,000 after purchasing an additional 10,000 shares in the last quarter. SG Americas Securities LLC boosted its stake in Joint Stock Company Kaspi.kz by 70.1% in the 2nd quarter. SG Americas Securities LLC now owns 28,637 shares of the company's stock worth $2,431,000 after purchasing an additional 11,805 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Joint Stock Company Kaspi.kz by 24.8% in the 1st quarter. Driehaus Capital Management LLC now owns 40,075 shares of the company's stock worth $3,721,000 after purchasing an additional 7,951 shares in the last quarter. Finally, Renaissance Capital LLC boosted its stake in Joint Stock Company Kaspi.kz by 6.7% in the 2nd quarter. Renaissance Capital LLC now owns 65,635 shares of the company's stock worth $5,572,000 after purchasing an additional 4,111 shares in the last quarter. Institutional investors own 32.20% of the company's stock.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.

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