Driehaus Capital Management LLC Purchases Shares of 712,964 Karman Holdings Inc. $KRMN

Key Points

• Driehaus Capital Management LLC acquired 712,964 shares of Karman Holdings Inc., valued at approximately $23.8 million, representing around 0.54% ownership in the company as of the latest SEC filing.
• Shares of Karman Holdings have declined 3.7%, trading at $53.38, while its earnings report showed a slight miss at $0.10 EPS against a consensus estimate of $0.11.
• Insiders sold significant shares recently, with major shareholder Spaceco SPV LP selling 23.6 million shares for approximately $1.16 billion, leading to a 31.89% decrease in their ownership.

Driehaus Capital Management LLC purchased a new position in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 712,964 shares of the company's stock, valued at approximately $23,827,000. Driehaus Capital Management LLC owned approximately 0.54% of Karman at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KRMN. Bank of New York Mellon Corp bought a new stake in Karman in the first quarter worth about $22,515,000. Caas Capital Management LP bought a new stake in shares of Karman during the first quarter valued at approximately $3,192,000. Stephens Investment Management Group LLC bought a new stake in shares of Karman during the first quarter valued at approximately $8,740,000. SBI Securities Co. Ltd. bought a new stake in shares of Karman during the first quarter valued at approximately $107,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Karman during the first quarter valued at approximately $14,891,000.

Insider Activity at Karman

In other news, insider Stephanie Sawhill sold 62,000 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 $3,038,000.00. Following the completion of the sale, the insider owned 566,939 shares in the company, valued at $27,780,011. This trade represents a 9.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 stock was 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 represents a 31.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,865,968 shares of company stock valued at $1,169,432,432.

Karman Stock Performance

Shares of KRMN traded up $0.21 during midday trading on Thursday, hitting $53.47. 102,725 shares of the company's stock traded hands, compared to its average volume of 1,165,785. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30. The company's fifty day moving average is $50.44. Karman Holdings Inc. has a 1 year low of $25.02 and a 1 year high of $57.31.

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. Karman has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KRMN shares. Citigroup reaffirmed a "buy" rating and set a $58.00 price target (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Robert W. Baird lifted their price target on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada boosted their price objective on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, Karman presently has a consensus rating of "Buy" and an average price target of $50.75.

Karman Company 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.