Hollencrest Capital Management Takes Position in Karman Holdings Inc. (NYSE:KRMN)

Hollencrest Capital Management purchased a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,625 shares of the company's stock, valued at approximately $155,000.

A number of other hedge funds also recently made changes to their positions in the business. Stephens Investment Management Group LLC acquired a new position in Karman in the first quarter worth approximately $8,740,000. Caas Capital Management LP purchased a new position in shares of Karman during the 1st quarter valued at $3,192,000. TimesSquare Capital Management LLC purchased a new position in shares of Karman during the 1st quarter valued at $14,891,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Karman during the 1st quarter valued at $33,985,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Karman in the 1st quarter valued at $22,515,000.

Karman Stock Performance

Shares of KRMN traded down $0.58 during midday trading on Friday, reaching $55.72. The stock had a trading volume of 2,782,268 shares, compared to its average volume of 1,213,450. The company's 50 day simple moving average is $46.15. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $57.32. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23.

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

Wall Street Analyst Weigh In

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

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.