Wedbush Securities Inc. Purchases 14,859 Shares of Karman Holdings Inc. $KRMN

Wedbush Securities Inc. raised its position in Karman Holdings Inc. (NYSE:KRMN) by 243.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,952 shares of the company’s stock after acquiring an additional 14,859 shares during the period. Wedbush Securities Inc.’s holdings in Karman were worth $679,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Karman by 3,471.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 486 shares in the last quarter. CX Institutional acquired a new stake in Karman in the 2nd quarter valued at $28,000. Tsfg LLC bought a new stake in Karman during the 2nd quarter valued at $30,000. Wilkerson Advisory Group LLC bought a new stake in Karman during the 1st quarter valued at $77,000. Finally, Hilltop National Bank increased its stake in Karman by 87.8% during the 2nd quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock valued at $63,000 after purchasing an additional 588 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KRMN. Needham & Company LLC dropped their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Truist Financial reduced their price objective on shares of Karman from $118.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, August 13th. BWS Financial reissued a “sell” rating and set a $37.00 target price on shares of Karman in a research report on Monday, August 10th. UBS Group set a $40.00 target price on shares of Karman in a report on Thursday. Finally, Citigroup raised their price target on shares of Karman from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Karman has an average rating of “Moderate Buy” and a consensus price target of $78.29.

Insider Activity

In other Karman news, Director David Stinnett purchased 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was bought at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the completion of the transaction, the director owned 3,530,395 shares of the company’s stock, valued at $131,754,341.40. The trade was a 0.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 5.77% of the stock is currently owned by corporate insiders.

Karman Stock Up 1.1%

Karman stock opened at $37.04 on Tuesday. Karman Holdings Inc. has a fifty-two week low of $29.34 and a fifty-two week high of $118.38. The stock has a market cap of $4.91 billion, a PE ratio of 79.67 and a beta of 0.64. The firm’s 50-day simple moving average is $39.14 and its 200 day simple moving average is $65.76. The company has a debt-to-equity ratio of 2.01, a quick ratio of 3.40 and a current ratio of 3.56.

Karman (NYSE:KRMN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The company’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Research analysts predict that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

Karman Profile

Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.

The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.