Stephens Investment Management Group LLC Acquires 989,608 Shares of Karman Holdings Inc. $KRMN

Stephens Investment Management Group LLC increased its holdings in Karman Holdings Inc. (NYSE:KRMN) by 285.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,336,524 shares of the company’s stock after purchasing an additional 989,608 shares during the period. Karman accounts for 1.3% of Stephens Investment Management Group LLC’s holdings, making the stock its 16th biggest holding. Stephens Investment Management Group LLC’s holdings in Karman were worth $96,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KRMN. Bank of New York Mellon Corp grew its holdings in Karman by 162.8% during 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 buying an additional 1,096,790 shares in the last quarter. Hood River Capital Management LLC bought a new position in shares of Karman during the second quarter worth $36,790,000. Goldman Sachs Group Inc. purchased a new position in Karman during the first quarter valued at $17,371,000. Franklin Resources Inc. increased its holdings in Karman by 91.6% in the 2nd quarter. Franklin Resources Inc. now owns 860,335 shares of the company’s stock valued at $43,335,000 after acquiring an additional 411,394 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Karman by 26.8% in the 2nd quarter. Invesco Ltd. now owns 1,905,052 shares of the company’s stock worth $95,957,000 after purchasing an additional 402,346 shares in the last quarter.

Karman Stock Down 0.5%

Shares of NYSE KRMN opened at $108.95 on Friday. Karman Holdings Inc. has a 12-month low of $25.02 and a 12-month high of $112.00. The stock’s fifty day simple moving average is $74.92 and its two-hundred day simple moving average is $66.37. The stock has a market capitalization of $14.42 billion and a PE ratio of 435.80. 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 quarterly 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 return on equity of 11.11% and a net margin of 2.65%.The firm had revenue of $121.79 million during the quarter. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 41.7% on a year-over-year basis.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank Of Canada reduced their price objective on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Evercore ISI lifted their target price on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. KeyCorp assumed coverage on Karman in a report on Thursday, December 18th. They set an “overweight” rating and a $80.00 price objective on the stock. Citigroup raised their price target on Karman from $84.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Truist Financial set a $118.00 price objective on Karman in a report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.50.

Insider Buying and Selling at Karman

In other Karman news, CFO Michael Willis sold 115,000 shares of the firm’s 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 completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of Karman 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 transaction, the chief operating officer directly owned 666,861 shares in the company, valued at $42,472,377.09. This represents a 9.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 251,000 shares of company stock valued at $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.