Roubaix Capital LLC Buys Shares of 70,968 Karman Holdings Inc. $KRMN

Key Points

• Roubaix Capital LLC acquired a new stake in Karman Holdings Inc. by purchasing 70,968 shares valued at approximately $2,372,000, representing about 0.05% ownership of the company.
• Major shareholder Spaceco Spv Lp Tcfiii sold over 23.6 million shares of Karman's stock, significantly reducing their position by 31.89% in a transaction valued at around $1.16 billion.
• Analysts are optimistic about Karman, with Royal Bank of Canada and Citigroup raising their price targets, indicating a consensus rating of "Buy" and an average target price of $50.75.

Roubaix Capital LLC bought a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,968 shares of the company's stock, valued at approximately $2,372,000. Roubaix Capital LLC owned approximately 0.05% of Karman at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Karman during the first quarter worth $107,000. US Bancorp DE acquired a new position in shares of Karman during the first quarter worth $124,000. Hollencrest Capital Management acquired a new position in shares of Karman during the first quarter worth $155,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Karman during the first quarter worth $170,000. Finally, Phoenix Financial Ltd. acquired a new position in shares of Karman during the first quarter worth $435,000.

Insider Buying and Selling at Karman

In other news, CFO Michael Willis sold 100,000 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jonathan Beaudoin sold 80,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $3,920,000.00. Following the transaction, the chief operating officer owned 740,861 shares in the company, 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 ninety days, insiders sold 23,865,968 shares of company stock valued at $1,169,432,432.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reiterated a "buy" rating and set a $58.00 price target (up previously from $46.50) on shares of Karman in a report on Monday, June 9th. Robert W. Baird lifted their price target on shares of Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada lifted 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $50.75.

Karman Trading Up 2.1%

Shares of NYSE:KRMN traded up $1.11 during midday trading on Friday, hitting $53.34. 363,941 shares of the company's stock were exchanged, compared to its average volume of 1,175,623. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.75 and a quick ratio of 2.58. The business's 50 day moving average price is $49.27. Karman Holdings Inc. has a 12 month low of $25.02 and a 12 month high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last posted its 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% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

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.