Delphi Financial Group Inc. Acquires Shares of 54,645 Karman Holdings Inc. $KRMN

Key Points

• Delphi Financial Group acquired a new Q3 stake of 54,645 shares in Karman Holdings (NYSE:KRMN) valued at about $3.945 million, representing ~2.2% of Delphi’s holdings and its 13th-largest position.
• Karman shares opened at $99.93, the company has a market cap of $13.22 billion, a P/E of 399.73, and a 52-week range of $25.02 to $118.38.
• Analysts maintain a consensus of Moderate Buy (1 Strong Buy, 8 Buy, 1 Hold, 1 Sell) with an average target of $108.40 and several recent upgrades pushing targets as high as $130.

Delphi Financial Group Inc. acquired a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 54,645 shares of the company's stock, valued at approximately $3,945,000. Karman accounts for about 2.2% of Delphi Financial Group Inc.'s holdings, making the stock its 13th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company's stock valued at $33,000 after acquiring an additional 164 shares in the last quarter. Amalgamated Bank boosted its position in Karman by 9.4% in the 3rd quarter. Amalgamated Bank now owns 2,183 shares of the company's stock worth $158,000 after purchasing an additional 188 shares in the last quarter. Barclays PLC boosted its position in Karman by 2.2% in the 3rd quarter. Barclays PLC now owns 12,964 shares of the company's stock worth $936,000 after purchasing an additional 273 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Karman during the 3rd quarter worth approximately $29,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company's stock valued at $46,000 after purchasing an additional 629 shares in the last quarter.

Karman Price Performance

Shares of NYSE KRMN opened at $99.93 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The firm has a fifty day moving average of $96.90 and a 200 day moving average of $79.15. The firm has a market cap of $13.22 billion and a PE ratio of 399.73. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $118.38.

Wall Street Analyst Weigh In

KRMN has been the subject of several analyst reports. Piper Sandler upgraded shares of Karman from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $110.00 to $127.00 in a research note on Friday, March 6th. Truist Financial set a $118.00 price target on shares of Karman in a research report on Friday, January 9th. Royal Bank Of Canada lifted their price objective on shares of Karman from $85.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, January 22nd. Needham & Company LLC began coverage on shares of Karman in a research report on Friday. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Raymond James Financial restated a "strong-buy" rating and set a $130.00 target price on shares of Karman in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Karman has an average rating of "Moderate Buy" and a consensus price target of $108.40.

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. 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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