XTX Topco Ltd Makes New Investment in Karman Holdings Inc. $KRMN

XTX Topco Ltd bought a new position in shares of Karman Holdings Inc. (NYSE:KRMN) during the 2nd quarter, Holdings Channel reports. The firm bought 20,195 shares of the company’s stock, valued at approximately $1,017,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. acquired a new position in Karman during the 1st quarter worth about $61,024,000. Price T Rowe Associates Inc. MD bought a new position in shares of Karman in the first quarter worth about $58,799,000. Invesco Ltd. acquired a new position in shares of Karman during the first quarter worth approximately $50,220,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Karman during the first quarter valued at approximately $48,691,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Karman in the first quarter valued at approximately $37,182,000.

Karman Trading Down 0.6%

NYSE:KRMN opened at $67.04 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69. The business’s 50-day simple moving average is $72.86 and its 200-day simple moving average is $58.29. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $88.82. The stock has a market capitalization of $8.87 billion and a PE ratio of 268.16.

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

Insider Buying and Selling

In other news, CFO Michael Willis sold 115,000 shares of Karman stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the sale, the chief financial officer directly owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer directly owned 666,861 shares in the company, valued at approximately $42,472,377.09. This represents a 9.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 251,000 shares of company stock worth $15,419,170.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KRMN. Truist Financial initiated coverage on Karman in a research report on Friday, October 10th. They issued a “buy” rating and a $89.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research report on Monday, November 24th. Raymond James Financial initiated coverage on shares of Karman in a report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price objective on the stock. Evercore ISI raised their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Finally, Royal Bank Of Canada dropped their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.17.

About Karman

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.