TD Asset Management Inc Buys Shares of 27,670 Karman Holdings Inc. (NYSE:KRMN)

Key Points

• TD Asset Management Inc acquired 27,670 shares of Karman Holdings Inc., valued at approximately $925,000, as reported in its 13F filing with the SEC.
• Karman Holdings reported a 20.6% increase in revenue year-over-year, totaling $100.12 million for the last quarter, exceeding analyst expectations.
• Insider sales saw significant activity, with COO Jonathan Beaudoin and insider Stephanie Sawhill selling a combined 142,000 shares recently, indicating a decrease in their holdings by approximately 9.75% and 9.86%, respectively.

TD Asset Management Inc purchased a new position in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,670 shares of the company's stock, valued at approximately $925,000.

Several other institutional investors and hedge funds have also modified their holdings of KRMN. SBI Securities Co. Ltd. bought a new position in Karman in the 1st quarter valued at approximately $107,000. Hollencrest Capital Management bought a new position in shares of Karman during the first quarter valued at $155,000. Phoenix Financial Ltd. acquired a new position in shares of Karman during the first quarter worth $435,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Karman during the 1st quarter worth $2,505,000. Finally, Caas Capital Management LP acquired a new position in Karman during the 1st quarter worth about $3,192,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KRMN. Citigroup reissued a "buy" rating and issued a $58.00 price target (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Royal Bank Of Canada boosted their price target on shares of 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 increased their price objective 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. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Karman has an average rating of "Buy" and an average price target of $49.25.

Karman Stock Down 3.6%

NYSE:KRMN traded down $1.80 on Wednesday, hitting $48.59. The stock had a trading volume of 1,083,999 shares, compared to its average volume of 1,157,379. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.23 and a current ratio of 3.34. Karman Holdings Inc. has a 52 week low of $25.02 and a 52 week high of $57.31. The company's fifty day moving average price is $48.11.

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

Insider Buying and Selling

In related news, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,038,000.00. Following the completion of the sale, the insider directly owned 566,939 shares of the company's stock, valued at approximately $27,780,011. This represents a 9.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Willis sold 100,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was 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 of the company's stock, valued at approximately $47,760,741. The trade was a 9.30% 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 in the last ninety days.

Karman 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.