OMERS ADMINISTRATION Corp Takes $682,000 Position in Karman Holdings Inc. $KRMN

Key Points

• OMERS ADMINISTRATION Corp has purchased 20,400 shares of Karman Holdings Inc., valued at approximately $682,000, marking a new investment in the company during the first quarter.
• Analysts have recently raised their price targets for Karman, with Royal Bank of Canada increasing it to $57.00 and Citigroup raising it to $58.00, reflecting a generally positive outlook on the stock.
• Karman's quarterly earnings report showed the company missed estimates with $0.10 earnings per share, despite a significant year-over-year revenue increase of 35.3%.

OMERS ADMINISTRATION Corp acquired a new position in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,400 shares of the company's stock, valued at approximately $682,000.

Several other institutional investors also recently bought and sold shares of KRMN. Vanguard Group Inc. acquired a new stake in Karman in the 1st quarter worth about $61,024,000. Price T Rowe Associates Inc. MD purchased a new position in Karman in the 1st quarter worth approximately $58,799,000. Invesco Ltd. purchased a new position in Karman in the 1st quarter worth approximately $50,220,000. T. Rowe Price Investment Management Inc. purchased a new position in Karman in the 1st quarter worth approximately $48,691,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Karman in the 1st quarter worth approximately $33,985,000.

Insider Buying and Selling at Karman

In related news, CFO Michael Willis sold 100,000 shares of the business's stock in a transaction on 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 sale, the chief financial officer directly owned 974,709 shares of the company's stock, valued at $47,760,741. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Beaudoin sold 80,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $3,920,000.00. Following the completion of the sale, the chief operating officer directly owned 740,861 shares of the company's stock, valued at approximately $36,302,189. This trade represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,865,968 shares of company stock worth $1,169,432,432.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada raised 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. Raymond James Financial initiated coverage on shares of Karman in a research report on Friday. They set a "strong-buy" rating and a $100.00 price target on the stock. Robert W. Baird lifted their target price on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Finally, Citigroup reiterated a "buy" rating and issued a $58.00 target price (up previously from $46.50) on shares of Karman in a report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $60.60.

Karman Trading Up 17.1%

Shares of NYSE:KRMN traded up $9.14 during trading on Friday, hitting $62.52. The company's stock had a trading volume of 4,172,566 shares, compared to its average volume of 1,176,373. The business has a 50 day moving average price of $50.75 and a two-hundred day moving average price of $42.36. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.58 and a current ratio of 2.75. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $63.30.

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

Karman Company 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.