HBK Investments L P Purchases New Shares in Karman Holdings Inc. $KRMN

Key Points

• HBK Investments L P acquired 100,000 shares of Karman Holdings Inc. worth approximately $3,342,000 in the 1st quarter, increasing their stake to 0.08% of the company.
• Insider COO Jonathan Beaudoin sold 80,000 shares for $3,920,000, representing a 9.75% decrease in his ownership, while total insider sales over the last 90 days reached $1.17 billion.
• The company reported Q2 earnings of $0.10 per share, missing estimates, despite a 35.3% year-over-year increase in revenue.

HBK Investments L P purchased a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 100,000 shares of the company's stock, valued at approximately $3,342,000. HBK Investments L P owned approximately 0.08% of Karman as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Stephens Investment Management Group LLC bought a new stake in shares of Karman in the 1st quarter valued at about $8,740,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Karman in the 1st quarter valued at about $48,691,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Karman in the 1st quarter valued at about $4,293,000. Jennison Associates LLC purchased a new position in shares of Karman in the 1st quarter valued at approximately $5,740,000. Finally, TD Asset Management Inc purchased a new position in shares of Karman in the 1st quarter valued at approximately $925,000.

Insider Activity

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 50,450,859 shares of the company's stock, valued at $2,472,092,091. This trade represents a 31.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Sawhill sold 62,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $3,038,000.00. Following the sale, the insider directly owned 566,939 shares in the company, valued at $27,780,011. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,865,968 shares of company stock worth $1,169,432,432 over the last 90 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KRMN shares. Citigroup reaffirmed a "buy" rating and issued a $58.00 price objective (up from $46.50) on shares of Karman in a research report on Monday, June 9th. Raymond James Financial started coverage on shares of Karman in a research report on Friday. They issued a "strong-buy" rating and a $100.00 price objective for the company. Royal Bank Of Canada raised their price target on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Robert W. Baird raised their price target on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, Karman currently has an average rating of "Buy" and an average target price of $60.60.

Karman Stock Performance

Shares of NYSE KRMN traded up $9.14 during midday trading on Friday, reaching $62.52. 4,172,566 shares of the stock were exchanged, compared to its average volume of 1,176,373. Karman Holdings Inc. has a twelve month low of $25.02 and a twelve month high of $63.30. The firm has a 50-day simple moving average of $50.75 and a two-hundred day simple moving average of $42.36. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 2.58.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The firm's 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.