Phoenix Financial Ltd. Makes New Investment in Karman Holdings Inc. (NYSE:KRMN)

Key Points

• Phoenix Financial Ltd. acquired 13,013 shares of Karman Holdings Inc. (NYSE:KRMN), valued at approximately $435,000, during the 1st quarter of the year.
• Karman Holdings reported earnings of $0.05 EPS for the quarter, exceeding analysts' expectations, with revenue of $100.12 million, reflecting a year-over-year increase of 20.6%.
• The stock received multiple upgrades from analysts, with Citigroup raising its target price to $58.00 and maintaining a "buy" rating, indicating strong market confidence.

Phoenix Financial Ltd. acquired a new position in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 13,013 shares of the company's stock, valued at approximately $435,000.

A number of other hedge funds also recently bought and sold shares of KRMN. SBI Securities Co. Ltd. purchased a new stake in Karman during the first quarter worth $107,000. Hollencrest Capital Management purchased a new stake in Karman during the first quarter worth $155,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Karman during the first quarter worth $2,505,000. Caas Capital Management LP purchased a new stake in Karman during the first quarter worth $3,192,000. Finally, Royce & Associates LP purchased a new stake in Karman during the first quarter worth $4,565,000.

Analyst Upgrades and Downgrades

KRMN has been the topic of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $58.00 price target (up from $46.50) on shares of Karman in a research report on Monday, June 9th. Royal Bank Of Canada upped their price target on Karman from $44.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Finally, Robert W. Baird upped their price target on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $49.25.

Karman Stock Performance

KRMN stock traded down $0.96 during midday trading on Wednesday, reaching $50.45. The stock had a trading volume of 363,543 shares, compared to its average volume of 1,145,415. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23. The firm has a fifty day simple moving average of $47.32. Karman Holdings Inc. has a 52-week low of $25.02 and a 52-week high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $100.12 million during the quarter, compared to analysts' expectations of $95.40 million. The business's revenue for the quarter was up 20.6% on a year-over-year basis.

Insider Transactions at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $27,780,011. This trade represents a 9.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Willis sold 100,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $4,900,000.00. Following the sale, the chief financial officer directly owned 974,709 shares in the company, valued at $47,760,741. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,865,968 shares of company stock worth $1,169,432,432.

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.