Candelo Capital Management LP Reduces Stock Position in Karman Holdings Inc. $KRMN

Key Points

• Candelo Capital Management LP cut its stake in Karman (NYSE:KRMN) by 56.0% in Q3, selling 10,300 shares and retaining 8,100 shares valued at $585,000 (0.5% of Candelo's holdings; its 26th largest position).
• Other institutions made sizable moves—Robert Wood Johnson Foundation initiated a new position worth about $70.49 million, while TimesSquare Capital Management increased its stake 361.7% to 1,546,905 shares valued near $111.69 million.
• Karman has a market cap of $13.22 billion and a P/E of 399.73, a 1-year range of $25.02–$118.38, and a consensus analyst rating of Moderate Buy with an average target price of $108.40.

Candelo Capital Management LP cut its position in Karman Holdings Inc. (NYSE:KRMN - Free Report) by 56.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,100 shares of the company's stock after selling 10,300 shares during the period. Karman makes up 0.5% of Candelo Capital Management LP's holdings, making the stock its 26th largest position. Candelo Capital Management LP's holdings in Karman were worth $585,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Robert Wood Johnson Foundation acquired a new position in Karman in the 3rd quarter worth approximately $70,488,000. Federated Hermes Inc. acquired a new stake in Karman during the 3rd quarter valued at approximately $2,055,000. TimesSquare Capital Management LLC boosted its holdings in shares of Karman by 361.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,546,905 shares of the company's stock valued at $111,687,000 after acquiring an additional 1,211,845 shares during the last quarter. Huntleigh Advisors Inc. purchased a new stake in shares of Karman in the 3rd quarter valued at $2,466,000. Finally, GAM Holding AG acquired a new stake in shares of Karman in the third quarter worth $1,250,000.

Karman Price Performance

NYSE:KRMN opened at $99.93 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69. The firm has a market cap of $13.22 billion and a price-to-earnings ratio of 399.73. The company has a 50 day moving average price of $96.90 and a 200-day moving average price of $79.31. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $118.38.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BWS Financial reissued a "sell" rating and set a $37.00 target price on shares of Karman in a report on Thursday, January 22nd. Needham & Company LLC started coverage on shares of Karman in a report on Friday. They issued a "buy" rating and a $125.00 price target on the stock. Piper Sandler raised Karman from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $110.00 to $127.00 in a research report on Friday, March 6th. Truist Financial set a $118.00 price objective on Karman in a research note on Friday, January 9th. Finally, Citigroup reissued a "buy" rating on shares of Karman in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $108.40.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.

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