Lexington Partners L.P. Has $129.28 Million Holdings in Karman Holdings Inc. $KRMN

Key Points

• Lexington Partners cut its Karman Holdings stake by 41.5% in the second quarter, selling 1.84 million shares. It still owns 2.59 million shares worth approximately $129.3 million, representing 96.6% of the firm’s reported portfolio.
• Karman reported quarterly EPS of $0.14, exceeding estimates by $0.01, while revenue rose 58.2% year over year to $182.1 million. Despite this growth, the stock opened at $39.72, near its 12-month low of $39.19 and well below its 12-month high of $118.38.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $92.10 price target, although several firms recently reduced their targets. Price objectives now range from $37 to $85 among the cited brokerages.

Lexington Partners L.P. lowered its stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) by 41.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,589,734 shares of the company's stock after selling 1,840,479 shares during the period. Karman accounts for 96.6% of Lexington Partners L.P.'s holdings, making the stock its largest holding. Lexington Partners L.P. owned approximately 1.95% of Karman worth $129,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. AustralianSuper Pty Ltd acquired a new position in shares of Karman in the fourth quarter valued at approximately $33,679,000. Grandeur Peak Global Advisors LLC lifted its stake in Karman by 98.4% in the second quarter. Grandeur Peak Global Advisors LLC now owns 59,025 shares of the company's stock valued at $2,947,000 after buying an additional 29,281 shares during the period. Dimensional Fund Advisors LP boosted its stake in Karman by 81.1% during the first quarter. Dimensional Fund Advisors LP now owns 47,381 shares of the company's stock worth $3,793,000 after acquiring an additional 21,224 shares in the last quarter. Freemont Management S.A. acquired a new stake in shares of Karman in the 1st quarter valued at about $2,177,000. Finally, Amundi increased its holdings in shares of Karman by 44.6% during the first quarter. Amundi now owns 512,231 shares of the company's stock valued at $41,004,000 after acquiring an additional 158,068 shares in the last quarter.

Karman Stock Performance

Shares of KRMN stock opened at $39.72 on Wednesday. The stock has a market capitalization of $5.26 billion, a P/E ratio of 136.96 and a beta of 0.47. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01. The firm's 50 day moving average is $50.57 and its 200 day moving average is $65.75. Karman Holdings Inc. has a 12 month low of $39.19 and a 12 month high of $118.38.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. The firm's quarterly revenue was up 58.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. On average, sell-side analysts anticipate that Karman Holdings Inc. will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KRMN. Needham & Company LLC decreased their price target on Karman from $125.00 to $80.00 and set a "buy" rating for the company in a report on Friday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Karman from $100.00 to $85.00 and set an "outperform" rating for the company in a report on Friday, July 24th. Weiss Ratings raised shares of Karman from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. BWS Financial restated a "sell" rating and set a $37.00 price target on shares of Karman in a research note on Monday, August 10th. Finally, Truist Financial lowered their price target on shares of Karman from $118.00 to $85.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.10.

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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