Readystate Asset Management LP Invests $5.67 Million in Karman Holdings Inc. $KRMN

Key Points

• Readystate Asset Management initiated a $5.67 million position in Karman Holdings during the second quarter, purchasing 113,675 shares, or approximately 0.09% of the company. Other major institutional investors have also increased or initiated holdings.
• Analysts maintain a generally positive outlook, with Karman receiving a “Moderate Buy” consensus rating and an average price target of $92.10, despite several recent target-price reductions.
• Karman reported quarterly EPS of $0.14, beating estimates by $0.01, while revenue rose 58.2% year over year to $182.06 million. Shares opened at $40.15, near the company’s 52-week low of $39.19.

Readystate Asset Management LP purchased a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 113,675 shares of the company's stock, valued at approximately $5,675,000. Readystate Asset Management LP owned 0.09% of Karman as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Falcon Wealth Planning bought a new stake in Karman during the 1st quarter worth approximately $205,684,000. Schusterman Interests LLC acquired a new stake in Karman during the 3rd quarter worth approximately $148,024,000. Trustees of the University of Pennsylvania bought a new position in Karman in the fourth quarter valued at approximately $142,869,000. Van ECK Associates Corp lifted its stake in Karman by 125.3% in the fourth quarter. Van ECK Associates Corp now owns 2,867,379 shares of the company's stock valued at $209,806,000 after buying an additional 1,594,518 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Karman by 68.6% in the third quarter. Invesco Ltd. now owns 3,211,187 shares of the company's stock valued at $231,848,000 after buying an additional 1,306,135 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Karman from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Evercore set a $100.00 target price on shares of Karman in a research note on Wednesday, May 13th. Piper Sandler reiterated an "overweight" rating and set a $91.00 target price (down from $114.00) on shares of Karman in a report on Friday, August 7th. Truist Financial lowered their target price on Karman from $118.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Finally, Royal Bank Of Canada dropped their price target on Karman from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $92.10.

Karman Price Performance

Shares of KRMN opened at $40.15 on Monday. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 138.45 and a beta of 0.47. Karman Holdings Inc. has a 1-year low of $39.19 and a 1-year high of $118.38. The company's fifty day simple moving average is $50.91 and its 200 day simple moving average is $66.29. The company has a current ratio of 3.56, a quick ratio of 3.40 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. The firm 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 business's revenue was up 58.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. On average, research analysts forecast that Karman Holdings Inc. will post 0.58 earnings per share for the current fiscal year.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.