225,000 Shares in Karman Holdings Inc. (NYSE:KRMN) Purchased by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP has made a new investment of approximately $7.52 million in Karman Holdings Inc. by purchasing 225,000 shares, representing a 0.17% ownership in the company.
• Several hedge funds, including Vanguard Group and Invesco, have also significantly increased their positions in Karman during the first quarter.
• Karman Holdings reported a 35.3% increase in quarterly revenue year-over-year, although it missed EPS estimates by one cent.

Burkehill Global Management LP purchased a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 225,000 shares of the company's stock, valued at approximately $7,520,000. Burkehill Global Management LP owned 0.17% of Karman as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. bought a new position in Karman during the first quarter worth $61,024,000. Invesco Ltd. bought a new position in Karman during the first quarter worth $50,220,000. Massachusetts Financial Services Co. MA bought a new position in Karman during the first quarter worth $33,985,000. Bank of New York Mellon Corp bought a new position in Karman during the first quarter worth $22,515,000. Finally, TimesSquare Capital Management LLC bought a new position in Karman during the first quarter worth $14,891,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KRMN shares. Royal Bank Of Canada boosted their target price on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Robert W. Baird lifted their price target on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 14th. Finally, Citigroup reiterated 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. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $50.75.

Karman Stock Up 1.0%

KRMN traded up $0.49 during trading on Wednesday, reaching $49.52. 165,410 shares of the company's stock were exchanged, compared to its average volume of 1,173,968. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $57.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 3.23. The firm has a 50 day moving average of $48.52.

Karman (NYSE:KRMN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.10 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.

Insider Activity

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the business's 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 sale, the insider owned 50,450,859 shares in the company, valued at approximately $2,472,092,091. The trade was a 31.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Sawhill sold 62,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $3,038,000.00. Following the completion of the sale, the insider owned 566,939 shares in the company, valued at $27,780,011. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,865,968 shares of company stock worth $1,169,432,432 over the last 90 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.