KLP Kapitalforvaltning AS Takes $277,000 Position in Karman Holdings Inc. $KRMN

KLP Kapitalforvaltning AS purchased a new position in Karman Holdings Inc. (NYSE:KRMN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,500 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KRMN. Vanguard Group Inc. acquired a new stake in Karman during the 1st quarter valued at approximately $61,024,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Karman during the 1st quarter valued at approximately $58,799,000. Invesco Ltd. acquired a new stake 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 in the first quarter worth $48,691,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Karman in the first quarter worth $37,182,000.

Insider Buying and Selling at Karman

In other Karman news, CFO Michael Willis sold 100,000 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $4,900,000.00. Following the completion of the sale, the chief financial officer owned 974,709 shares in the company, valued at $47,760,741. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $1,157,574,432.00. Following the transaction, the insider directly owned 50,450,859 shares of the company’s stock, valued at approximately $2,472,092,091. This trade represents a 31.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,865,968 shares of company stock worth $1,169,432,432 in the last ninety days.

Analyst Upgrades and Downgrades

KRMN has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Raymond James Financial initiated coverage on shares of Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Karman in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Karman from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Truist Financial initiated coverage on shares of Karman in a research note on Friday, October 10th. They issued a “buy” rating and a $89.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $71.50.

Karman Stock Performance

KRMN stock opened at $74.99 on Monday. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $80.32. The firm has a fifty day moving average price of $63.12 and a two-hundred day moving average price of $50.11.

Karman (NYSE:KRMN) last released its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $115.10 million for the quarter. The company’s quarterly revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

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.