Ghisallo Capital Management LLC Acquires Shares of 225,000 Karman Holdings Inc. $KRMN

Key Points

• Ghisallo Capital Management LLC acquired 225,000 shares of Karman Holdings Inc., valued at approximately $7.52 million, making it a new stakeholder in the company.
• Analysts are optimistic about Karman, with multiple firms raising their price targets; Robert W. Baird and Royal Bank of Canada both give it an "outperform" rating.
• Despite receiving a positive forecast from analysts, Karman's stock has seen a 3.7% decline recently, following mixed earnings reports and insider sales transactions.

Ghisallo Capital Management LLC purchased a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 225,000 shares of the company's stock, valued at approximately $7,520,000. Ghisallo Capital Management LLC owned 0.17% of Karman at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of KRMN. Bank of New York Mellon Corp purchased a new stake in Karman in the first quarter worth about $22,515,000. Caas Capital Management LP purchased a new stake in Karman in the first quarter worth about $3,192,000. Stephens Investment Management Group LLC purchased a new stake in Karman in the first quarter worth about $8,740,000. SBI Securities Co. Ltd. bought a new position in shares of Karman in the first quarter worth approximately $107,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Karman in the first quarter worth approximately $14,891,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Citigroup reiterated a "buy" rating and issued a $58.00 target price (up previously from $46.50) on shares of Karman in a research note on Monday, June 9th. Robert W. Baird upped their target price 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. Royal Bank Of Canada upped their target price on shares of Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial assumed coverage on shares of Karman in a research note on Friday. They issued a "strong-buy" rating and a $100.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $60.60.

Insider Buying and Selling at Karman

In other news, insider Stephanie Sawhill sold 62,000 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 $3,038,000.00. Following the completion of the sale, the insider owned 566,939 shares in the company, 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, 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 transaction of $1,157,574,432.00. Following the completion of the sale, the insider owned 50,450,859 shares of the company's stock, valued at $2,472,092,091. This trade represents a 31.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,865,968 shares of company stock valued at $1,169,432,432.

Karman Trading Up 14.6%

KRMN traded up $7.82 during trading on Friday, hitting $61.20. The company's stock had a trading volume of 2,336,323 shares, compared to its average volume of 1,179,887. Karman Holdings Inc. has a one year low of $25.02 and a one year high of $61.59. The business's 50 day simple moving average is $50.51 and its 200-day simple moving average is $42.21. 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 earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Karman's revenue was up 35.3% compared to the same quarter last year. Karman has set its FY 2025 guidance at EPS.

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.