Durable Capital Partners LP Purchases Shares of 575,000 Karman Holdings Inc. $KRMN

Key Points

• Durable Capital Partners LP acquired a stake in Karman Holdings Inc., purchasing 575,000 shares valued at approximately $19.22 million during the first quarter.
• Multiple analysts have upgraded Karman's stock ratings, with Citigroup raising the price objective to $58.00 and a consensus target price of $50.75.
• Karman's recent quarterly earnings report indicated a 35.3% increase in revenue year-over-year, although the earnings per share fell short of expectations.

Durable Capital Partners LP bought a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 575,000 shares of the company's stock, valued at approximately $19,216,000. Durable Capital Partners LP owned about 0.44% of Karman as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Stephens Investment Management Group LLC bought a new stake in shares of Karman in the 1st quarter valued at $8,740,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Karman in the first quarter worth about $48,691,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Karman in the first quarter worth about $4,293,000. Jennison Associates LLC bought a new stake in shares of Karman in the first quarter worth about $5,740,000. Finally, TD Asset Management Inc bought a new stake in shares of Karman in the first quarter worth about $925,000.

Karman Price Performance

Shares of NYSE:KRMN traded up $9.14 during mid-day trading on Friday, reaching $62.52. 4,172,566 shares of the stock were exchanged, compared to its average volume of 1,176,373. 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 Holdings Inc. has a one year low of $25.02 and a one year high of $63.30. The stock's 50 day simple moving average is $50.75 and its 200-day simple moving average is $42.36.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (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.

Analysts Set New Price Targets

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

Insider Transactions at Karman

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $1,157,574,432.00. Following the completion of the transaction, the insider owned 50,450,859 shares in the company, valued at $2,472,092,091. This trade represents a 31.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Willis sold 100,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $49.00, for a total value of $4,900,000.00. Following the completion of the transaction, the chief financial officer owned 974,709 shares of the company's stock, valued at $47,760,741. The trade was a 9.30% 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 valued at $1,169,432,432 in the last ninety 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.