Baird Financial Group Inc. Acquires New Position in Karman Holdings Inc. $KRMN

Key Points

• Baird Financial Group Inc. acquired 48,847 shares of Karman Holdings Inc., valued at approximately $1,632,000, marking a significant new investment in the company during the first quarter.
• Insider sales were reported, with COO Jonathan Beaudoin selling 80,000 shares for $3,920,000, representing a 9.75% decrease in his position.
• Brokerages have increased their price targets for Karman Holdings Inc., with Raymond James setting a target of $100.00 and Royal Bank of Canada raising it to $57.00, indicating positive sentiment among analysts.

Baird Financial Group Inc. acquired a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 48,847 shares of the company's stock, valued at approximately $1,632,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Karman in the 1st quarter worth approximately $107,000. US Bancorp DE acquired a new position in Karman in the 1st quarter worth approximately $124,000. Hollencrest Capital Management acquired a new position in Karman in the 1st quarter worth approximately $155,000. Caitong International Asset Management Co. Ltd acquired a new position in Karman in the 1st quarter worth approximately $170,000. Finally, Phoenix Financial Ltd. acquired a new position in Karman in the 1st quarter worth approximately $435,000.

Insider Activity at Karman

In related news, insider Stephanie Sawhill sold 62,000 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 $3,038,000.00. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jonathan Beaudoin sold 80,000 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 transaction of $3,920,000.00. Following the completion of the sale, the chief operating officer directly owned 740,861 shares in the company, valued at $36,302,189. This represents a 9.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,865,968 shares of company stock worth $1,169,432,432 over the last 90 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KRMN. Royal Bank Of Canada increased their price target on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial began coverage on shares of Karman in a report on Friday. They issued a "strong-buy" rating and a $100.00 price target on the stock. Robert W. Baird increased their price target on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Citigroup reaffirmed a "buy" rating and set a $58.00 price objective (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $60.60.

Karman Stock Performance

Shares of NYSE KRMN opened at $62.52 on Monday. Karman Holdings Inc. has a 12 month low of $25.02 and a 12 month high of $63.30. The firm's 50 day simple moving average is $50.75 and its 200-day simple moving average is $42.36. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The firm's revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

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.

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