Vanguard Group Inc. Invests $61.02 Million in Karman Holdings Inc. $KRMN

Key Points

• Vanguard Group Inc. purchased 1,825,984 shares of Karman Holdings Inc., valued at approximately $61 million, representing a new stake for the institutional investor.
• Major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares for over $1.15 billion, resulting in a significant decrease of 31.89% in their ownership.
• Analysts have raised their price targets for Karman, with Robert W. Baird raising it from $40 to $50 and Citigroup setting a new target of $58, indicating a generally positive outlook.

Vanguard Group Inc. bought a new stake in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,825,984 shares of the company's stock, valued at approximately $61,024,000. Vanguard Group Inc. owned approximately 1.38% of Karman at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Karman in the first quarter valued at about $107,000. US Bancorp DE purchased a new position in Karman in the first quarter valued at about $124,000. Hollencrest Capital Management purchased a new position in Karman in the first quarter valued at about $155,000. Phoenix Financial Ltd. purchased a new position in Karman in the first quarter valued at about $435,000. Finally, TD Asset Management Inc purchased a new position in Karman in the first quarter valued at about $925,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Karman from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. Citigroup reaffirmed a "buy" rating and issued a $58.00 price target (up previously from $46.50) on shares of Karman in a report on Monday, June 9th. Finally, Royal Bank Of Canada upped their price target on shares of Karman from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $50.75.

Insider Activity at Karman

In other news, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 represents a 31.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Willis sold 100,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $49.00, for a total transaction of $4,900,000.00. Following the transaction, the chief financial officer owned 974,709 shares in the company, valued at approximately $47,760,741. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432.

Karman Stock Performance

Shares of NYSE KRMN traded down $2.07 during midday trading on Friday, reaching $53.38. 917,327 shares of the stock were exchanged, compared to its average volume of 1,285,790. Karman Holdings Inc. has a 52-week low of $25.02 and a 52-week high of $57.31. 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 stock's 50 day simple moving average is $50.12.

Karman (NYSE:KRMN - Get Free Report) last issued 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 was up 35.3% on a year-over-year basis. 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.