New York State Common Retirement Fund Purchases New Position in Karooooo Ltd. (NASDAQ:KARO)

New York State Common Retirement Fund purchased a new stake in shares of Karooooo Ltd. (NASDAQ:KARO) during the 4th quarter, Holdings Channel reports. The fund purchased 576 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of Karooooo during the 3rd quarter valued at approximately $216,000. Walleye Capital LLC acquired a new stake in Karooooo during the 3rd quarter worth approximately $323,000. Gladius Capital Management LP raised its holdings in Karooooo by 124.2% during the 3rd 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 during the last quarter. Schwartz Investment Counsel Inc. raised its position in shares of Karooooo by 17.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock worth $2,735,000 after acquiring an additional 8,881 shares in the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Karooooo during the 4th quarter worth approximately $6,146,000.

Wall Street Analysts Forecast Growth

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

Karooooo Stock Performance

KARO stock opened at $42.40 on Friday. The firm has a market cap of $1.31 billion, a PE ratio of 27.18 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. The business has a 50 day moving average of $46.37 and a 200-day moving average of $42.80. Karooooo Ltd. has a 12-month low of $23.35 and a 12-month high of $50.54.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. As a group, sell-side analysts expect 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.