Karman Holdings Inc. $KRMN Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its holdings in Karman Holdings Inc. (NYSE:KRMN) by 100.0% during the third quarter, HoldingsChannel reports. The fund owned 11,000 shares of the company’s stock after buying an additional 5,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Karman were worth $794,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after buying an additional 164 shares during the period. Global Retirement Partners LLC lifted its position in shares of Karman by 5,718.2% during the third quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after purchasing an additional 629 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Karman during the second quarter worth about $50,000. Penserra Capital Management LLC purchased a new position in shares of Karman in the second quarter valued at approximately $95,000. Finally, Amalgamated Bank acquired a new position in shares of Karman in the second quarter worth $100,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial set a $118.00 target price on shares of Karman in a research note on Friday. Evercore ISI raised their price target on Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Royal Bank Of Canada reduced their price objective on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. Finally, Citigroup upped their target price on Karman from $84.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

Karman Stock Down 0.4%

Karman stock opened at $107.12 on Wednesday. The stock has a 50 day moving average of $72.91 and a two-hundred day moving average of $65.37. Karman Holdings Inc. has a twelve month low of $25.02 and a twelve month high of $109.22. The stock has a market capitalization of $14.17 billion and a price-to-earnings ratio of 428.46. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27.

Karman (NYSE:KRMN) last released its earnings results on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $121.79 million for the quarter. Karman had a return on equity of 11.11% and a net margin of 2.65%.The company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS.

Insiders Place Their Bets

In other news, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total transaction of $4,713,060.00. Following the completion of the transaction, the chief operating officer directly owned 666,861 shares of the company’s stock, valued at approximately $42,472,377.09. This represents a 9.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.93, for a total value of $3,963,660.00. Following the transaction, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. This represents a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 251,000 shares of company stock worth $15,419,170.

Karman Company 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.