Short Interest in Scout24 SE (OTCMKTS:SCOTF) Declines By 27.3%

Scout24 SE (OTCMKTS:SCOTF) was the target 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 trading volume of 1 shares, the short-interest ratio is currently 8,413.0 days.

Analysts Set New Price Targets

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

Scout24 Price Performance

OTCMKTS SCOTF opened at $115.36 on Monday. The firm’s fifty day moving average price is $115.36 and its two-hundred day moving average price is $118.24. Scout24 has a fifty-two week low of $115.36 and a fifty-two week high of $141.53.

Scout24 declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Scout24

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.