TD Asset Management Inc Makes New Investment in 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 disclosure with the SEC. The institutional investor purchased 27,670 shares of the company's stock, valued at approximately $925,000.

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

Wall Street Analyst Weigh In

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

Karman Stock Performance

NYSE:KRMN traded down $1.50 on Friday, reaching $46.71. 1,770,997 shares of the stock traded hands, compared to its average volume of 1,166,426. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $57.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.23 and a current ratio of 3.34. The firm has a 50 day moving average of $48.30.

Karman (NYSE:KRMN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business's revenue was up 35.3% compared to the same quarter last year.

Insiders Place Their Bets

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of Karman stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $1,157,574,432.00. Following the completion of the sale, the insider owned 50,450,859 shares in the company, valued at $2,472,092,091. The trade was a 31.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jonathan Beaudoin sold 80,000 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 transaction of $3,920,000.00. Following the transaction, the chief operating officer directly owned 740,861 shares in the company, valued at approximately $36,302,189. This represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.