Price T Rowe Associates Inc. MD Invests $58.80 Million in Karman Holdings Inc. $KRMN

Key Points

• Price T Rowe Associates Inc. invested approximately $58.80 million in Karman Holdings, acquiring 1,759,356 shares, representing 1.33% of the company.
• Several other institutional investors, including SBI Securities and US Bancorp, also purchased new positions in Karman during the first quarter, further indicating growing interest in the stock.
• Karman's recent earnings report revealed a slight miss on EPS estimates, reporting $0.10 per share while the consensus was $0.11, despite a 35.3% year-over-year revenue increase.

Price T Rowe Associates Inc. MD acquired 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 13F filing with the Securities and Exchange Commission. The firm acquired 1,759,356 shares of the company's stock, valued at approximately $58,799,000. Price T Rowe Associates Inc. MD owned approximately 1.33% of Karman at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Stephens Investment Management Group LLC purchased a new stake in shares of Karman during the first quarter valued at $8,740,000. T. Rowe Price Investment Management Inc. acquired a new stake in Karman during the 1st quarter worth about $48,691,000. Jennison Associates LLC purchased a new stake in Karman during the first quarter valued at about $5,740,000. TD Asset Management Inc purchased a new stake in Karman during the first quarter valued at about $925,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Karman in the first quarter worth about $170,000.

Insider Transactions at Karman

In other Karman news, CFO Michael Willis sold 100,000 shares of Karman stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total transaction of $4,900,000.00. Following the completion of the sale, the chief financial officer owned 974,709 shares of the company's stock, valued at approximately $47,760,741. The trade was a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Beaudoin sold 80,000 shares of the company'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 owned 740,861 shares of the company's stock, valued at approximately $36,302,189. This represents a 9.75% 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 over the last 90 days.

Wall Street Analyst Weigh In

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

Karman Price Performance

Shares of NYSE:KRMN traded down $2.07 during trading on Friday, hitting $53.38. 917,327 shares of the stock were exchanged, compared to its average volume of 1,285,790. 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 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 $49.98.

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

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.