TimesSquare Capital Management LLC Trims Stock Position in Karman Holdings Inc. $KRMN

TimesSquare Capital Management LLC lowered its stake in shares of Karman Holdings Inc. (NYSE:KRMN) by 24.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 335,060 shares of the company’s stock after selling 110,509 shares during the quarter. TimesSquare Capital Management LLC owned about 0.25% of Karman worth $16,877,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Lisanti Capital Growth LLC acquired a new position in shares of Karman in the 2nd quarter valued at $1,996,000. King Luther Capital Management Corp acquired a new stake in Karman during the second quarter worth about $2,363,000. Penserra Capital Management LLC purchased a new position in shares of Karman in the 2nd quarter worth about $95,000. Bank of New York Mellon Corp lifted its stake in shares of Karman by 162.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,770,498 shares of the company’s stock valued at $89,180,000 after purchasing an additional 1,096,790 shares in the last quarter. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Karman in the 2nd quarter valued at about $6,245,000.

Karman Trading Down 2.5%

NYSE KRMN opened at $67.64 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.58 and a current ratio of 2.86. The company has a 50-day simple moving average of $73.00 and a 200-day simple moving average of $56.11. The firm has a market capitalization of $8.95 billion and a PE ratio of 450.93. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $88.82.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KRMN. Weiss Ratings raised shares of Karman from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Truist Financial initiated coverage on shares of Karman in a report on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Evercore ISI upped their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, Raymond James Financial started coverage on Karman in a research report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.17.

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.