Capricorn Fund Managers Ltd Makes New Investment in Karooooo Ltd. (NASDAQ:KARO)

Capricorn Fund Managers Ltd purchased a new stake in Karooooo Ltd. (NASDAQ:KARO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 132,884 shares of the company’s stock, valued at approximately $6,146,000. Karooooo accounts for 2.7% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in Karooooo by 23.3% in the 2nd quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after acquiring an additional 3,356 shares during the period. Gladius Capital Management LP grew its stake in shares of Karooooo by 124.2% in the third 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. Quadrature Capital Ltd acquired a new position in shares of Karooooo during the third quarter valued at $216,000. Finally, Walleye Capital LLC bought a new stake in shares of Karooooo during the third quarter valued at about $323,000.

Analysts Set New Price Targets

Separately, Raymond James reiterated an “outperform” rating and issued a $51.00 target price (up previously from $46.00) on shares of Karooooo in a research report on Thursday, January 16th.

Karooooo Price Performance

Shares of NASDAQ:KARO opened at $45.40 on Tuesday. The stock’s 50 day moving average price is $45.10 and its 200 day moving average price is $40.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 29.10 and a beta of 1.03. Karooooo Ltd. has a 12 month low of $23.35 and a 12 month high of $50.54.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. Equities research analysts anticipate that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

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.