Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Stock Falls 2.2% - Here's Why

Key Points

• Kaspi.kz shares fell 2.2% to $92.02, with trading volume 22% above average. The company has a $17.49 billion market capitalization and trades below its 50-day moving average of $97.99.
• Analyst sentiment remains mixed, with a consensus “Hold” rating from five analysts and an average price target of $107.33. Recent targets range from $100 to $115, while Zacks Research downgraded the stock to “Hold.”
• Kaspi.kz increased its dividend to $2.149 per share from $1.7977, resulting in a payout ratio of 78.14%; institutional investors own 32.20% of the company.

Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report)'s stock price fell 2.2% on Thursday. The stock traded as low as $90.59 and last traded at $92.02. 710,418 shares were traded during mid-day trading, an increase of 22% from the average session volume of 581,351 shares. The stock had previously closed at $94.06.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KSPI shares. Zacks Research cut shares of Joint Stock Company Kaspi.kz from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Wolfe Research lifted their price objective on Joint Stock Company Kaspi.kz from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Weiss Ratings upgraded Joint Stock Company Kaspi.kz from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 8th. Finally, Susquehanna increased their target price on Joint Stock Company Kaspi.kz from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $107.33.

Joint Stock Company Kaspi.kz Trading Down 2.2%

The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 8.38 and a beta of 1.06. The stock's 50 day moving average price is $97.99 and its two-hundred day moving average price is $88.85.

Joint Stock Company Kaspi.kz Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, September 10th were issued a dividend of $2.1490 per share. This is an increase from Joint Stock Company Kaspi.kz's previous dividend of $1.7977. The ex-dividend date of this dividend was Thursday, September 10th. Joint Stock Company Kaspi.kz's payout ratio is presently 78.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Joint Stock Company Kaspi.kz during the 2nd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its holdings in shares of Joint Stock Company Kaspi.kz by 2,683.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock worth $37,000 after acquiring an additional 483 shares during the period. FNY Investment Advisers LLC increased its stake in Joint Stock Company Kaspi.kz by 52.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 789 shares of the company's stock valued at $68,000 after purchasing an additional 271 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Joint Stock Company Kaspi.kz in the 2nd quarter valued at approximately $159,000. Finally, Euro Pacific Asset Management LLC acquired a new position in Joint Stock Company Kaspi.kz during the first quarter worth $2,365,000. 32.20% of the stock is owned by hedge funds and other institutional investors.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz is a Kazakhstan-based technology and financial services company that operates a consumer-focused digital ecosystem. Through its Kaspi.kz super app, the company brings together payments, shopping and financial services in a single platform serving consumers and merchants.

Its payment products include peer-to-peer transfers, bill payments, mobile and online payments, QR payments and digital banking services. The company also offers products such as payment cards, deposits and consumer lending, while its marketplace connects customers with merchants offering a broad range of goods and services.

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