Lord Abbett & CO. LLC Makes New Investment in Karman Holdings Inc. $KRMN

Key Points

• Lord Abbett & CO. LLC recently invested approximately $14.79 million in Karman Holdings Inc. by purchasing 442,478 shares in the 1st quarter.
• Several other institutional investors have also increased their stakes in Karman, including Vanguard Group Inc. and Invesco Ltd., indicating growing interest in the company.
• Karman's most recent quarterly earnings showed a 35.3% increase in revenue year-over-year, despite missing EPS estimates by a small margin.

Lord Abbett & CO. LLC acquired a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 442,478 shares of the company's stock, valued at approximately $14,787,000. Lord Abbett & CO. LLC owned 0.33% of Karman at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Karman in the 1st quarter valued at $22,515,000. Caas Capital Management LP acquired a new stake in Karman in the 1st quarter valued at about $3,192,000. Stephens Investment Management Group LLC acquired a new position in Karman in the 1st quarter valued at about $8,740,000. SBI Securities Co. Ltd. acquired a new position in Karman in the 1st quarter valued at about $107,000. Finally, TimesSquare Capital Management LLC purchased a new stake in Karman in the 1st quarter valued at about $14,891,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KRMN shares. Robert W. Baird boosted their target price on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Royal Bank Of Canada upped their price target on Karman from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, Citigroup restated a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, Karman has an average rating of "Buy" and a consensus target price of $50.75.

Karman Price Performance

Shares of NYSE:KRMN traded up $1.19 during trading on Thursday, hitting $51.95. 434,362 shares of the stock were exchanged, compared to its average volume of 1,174,612. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $57.31. The company has a fifty day moving average price of $49.18. The company has a current ratio of 2.75, a quick ratio of 2.58 and a debt-to-equity ratio of 1.30.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business's revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Insiders Place Their Bets

In related news, CFO Michael Willis sold 100,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $4,900,000.00. Following the sale, the chief financial officer owned 974,709 shares in the company, valued at $47,760,741. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the company'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 $1,157,574,432.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 23,865,968 shares of company stock worth $1,169,432,432 over the last 90 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.