T. Rowe Price Investment Management Inc. Takes $48.69 Million Position in Karman Holdings Inc. $KRMN

Key Points

• T. Rowe Price Investment Management Inc. acquired a new stake in Karman Holdings Inc., purchasing 1,456,937 shares valued at approximately $48.69 million in the first quarter.
• Major shareholder Spaceco Spv Lp Tcfiii sold 23.6 million shares of Karman for over $1.15 billion, representing a significant decrease in their ownership stake.
• Karman’s stock has a 52-week high of $57.31 and recently reported a quarterly revenue increase of 35.3%, although it missed EPS estimates.

T. Rowe Price Investment Management Inc. bought a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,456,937 shares of the company's stock, valued at approximately $48,691,000. T. Rowe Price Investment Management Inc. owned approximately 1.10% of Karman as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stephens Investment Management Group LLC purchased a new stake in shares of Karman in the first quarter valued at $8,740,000. Jennison Associates LLC purchased a new stake in shares of Karman in the first quarter valued at $5,740,000. TD Asset Management Inc purchased a new stake in shares of Karman during the first quarter worth $925,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Karman during the first quarter worth $33,985,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Karman during the first quarter worth $2,505,000.

Insider Buying and Selling

In other Karman news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the firm'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 $1,157,574,432.00. Following the transaction, the insider directly owned 50,450,859 shares in the company, valued at $2,472,092,091. This trade represents a 31.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Beaudoin sold 80,000 shares of the firm'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 $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. Insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432 in the last three months.

Karman Stock Performance

NYSE KRMN opened at $52.39 on Friday. Karman Holdings Inc. has a fifty-two week low of $25.02 and a fifty-two week high of $57.31. The company's 50-day moving average is $49.37. 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 (NYSE:KRMN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The company's quarterly revenue was up 35.3% on a year-over-year basis. Karman has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

KRMN has been the subject of several recent research reports. Royal Bank Of Canada increased their price objective on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Robert W. Baird increased their price objective on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Citigroup reiterated a "buy" rating and set a $58.00 price objective (up from $46.50) on shares of Karman in a report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $50.75.

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.

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