Scout24 SE (OTCMKTS:SCOTF) Short Interest Down 27.3% in March

Scout24 SE (OTCMKTS:SCOTF) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 8,413 shares, a drop of 27.3% from the February 26th total of 11,572 shares. Based on an average daily volume of 1 shares, the days-to-cover ratio is currently 8,413.0 days.

Scout24 Price Performance

SCOTF stock opened at $115.36 on Friday. Scout24 has a 12 month low of $115.36 and a 12 month high of $141.53. The firm has a 50 day simple moving average of $115.36 and a 200 day simple moving average of $118.30.

Scout24 declared that its board has initiated a stock buyback program on Wednesday, December 3rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SCOTF. UBS Group upgraded Scout24 to a “buy” rating in a research report on Monday, February 9th. Morgan Stanley raised Scout24 from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group raised Scout24 to a “buy” rating in a report on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Scout24 Company Profile

Scout24 AG is a Germany-based operator of digital marketplaces specializing in real estate and automotive sectors. Headquartered in Munich, the company’s flagship platforms include ImmobilienScout24, a leading online property portal in Germany and Austria, and AutoScout24, one of Europe’s largest online marketplaces for new and used vehicles. These platforms connect private individuals, brokers and dealers with prospective buyers through searchable listings, digital marketing tools and ancillary services such as valuation modules and financing calculators.

Founded in 1998 as ImmobilienScout GmbH and rebranded to Scout24 AG in 2004, the company has expanded its footprint to serve multiple European markets.