Scout24 SE (OTCMKTS:SCOTF) Sees Large Decline in Short Interest

Scout24 SE (OTCMKTS:SCOTF) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 13,911 shares, a drop of 14.9% from the January 15th total of 16,352 shares. Based on an average daily trading volume, of 472 shares, the days-to-cover ratio is currently 29.5 days. Based on an average daily trading volume, of 472 shares, the days-to-cover ratio is currently 29.5 days.

Scout24 Stock Performance

Shares of OTCMKTS SCOTF opened at $115.36 on Tuesday. Scout24 has a 12-month low of $115.36 and a 12-month high of $141.53. The firm has a 50 day moving average of $115.36 and a 200 day moving average of $120.64.

Scout24 announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 3rd that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SCOTF shares. Citigroup restated a “buy” rating on shares of Scout24 in a research note on Monday, November 3rd. Morgan Stanley raised shares of Scout24 from an “equal weight” rating to an “overweight” rating in a report on Friday, January 9th. Royal Bank Of Canada restated an “outperform” rating on shares of Scout24 in a research report on Monday, November 3rd. Jefferies Financial Group raised shares of Scout24 to a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group upgraded shares of Scout24 to a “buy” rating in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate 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.