Ranger Investment Management L.P. Invests $19.15 Million in Karman Holdings Inc. $KRMN

Ranger Investment Management L.P. bought a new stake in Karman Holdings Inc. (NYSE:KRMN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 265,160 shares of the company’s stock, valued at approximately $19,145,000. Ranger Investment Management L.P. owned about 0.20% of Karman at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Karman in the 1st quarter valued at $10,199,000. Goldman Sachs Group Inc. bought a new stake in Karman during the first quarter valued at $17,371,000. Jane Street Group LLC acquired a new position in shares of Karman in the 1st quarter valued at about $532,000. KLP Kapitalforvaltning AS bought a new stake in shares of Karman during the 2nd quarter valued at about $277,000. Finally, Blair William & Co. IL acquired a new stake in Karman during the second quarter worth approximately $726,000.

Karman Stock Performance

Shares of Karman stock opened at $92.20 on Friday. Karman Holdings Inc. has a 52 week low of $25.02 and a 52 week high of $118.38. The company has a quick ratio of 2.69, a current ratio of 2.86 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average price of $86.98 and a 200-day moving average price of $72.04. The company has a market cap of $12.20 billion and a PE ratio of 369.88.

Karman (NYSE:KRMN) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The business had revenue of $121.79 million during the quarter. During the same quarter last year, the company posted $0.04 EPS. The company’s quarterly revenue was up 41.7% compared to the same quarter last year.

Insider Transactions at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. This represents a 10.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Willis sold 115,000 shares of Karman stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the transaction, the chief financial officer directly owned 859,709 shares in the company, valued at approximately $50,404,738.67. This represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 251,000 shares of company stock worth $15,419,170 in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KRMN. Royal Bank Of Canada boosted their price target on Karman from $85.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a research report on Thursday, January 22nd. Citigroup increased their price target on Karman from $123.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Evercore ISI upped their target price on Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.33.

Karman Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.