Woodline Partners LP Takes $5.70 Million Position in Karman Holdings Inc. $KRMN

Key Points

• Woodline Partners LP has acquired a new stakeholder position in Karman Holdings Inc., purchasing 170,569 shares valued at approximately $5.7 million, increasing its ownership to 0.13%.
• Analysts are bullish on Karman's stock, with Royal Bank of Canada and Citigroup raising their price targets to $57.00 and $58.00 respectively, while Raymond James initiated coverage with a target of $100.00.
• Karman's shares have experienced notable insider selling, with insider Stephanie Sawhill and CFO Michael Willis selling a combined total of 162,000 shares worth about $7 million.

Woodline Partners LP bought a new position in Karman Holdings Inc. (NYSE:KRMN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 170,569 shares of the company's stock, valued at approximately $5,700,000. Woodline Partners LP owned approximately 0.13% of Karman at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Karman in the 1st quarter worth approximately $61,024,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Karman in the 1st quarter worth approximately $58,799,000. Invesco Ltd. bought a new stake in shares of Karman in the 1st quarter worth approximately $50,220,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Karman in the 1st quarter worth approximately $48,691,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Karman in the 1st quarter worth approximately $37,182,000.

Karman Trading Down 0.9%

Shares of KRMN traded down $0.56 during midday trading on Monday, reaching $63.77. The stock had a trading volume of 1,415,898 shares, compared to its average volume of 1,360,035. Karman Holdings Inc. has a 52 week low of $25.02 and a 52 week high of $65.99. The company has a quick ratio of 2.58, a current ratio of 2.75 and a debt-to-equity ratio of 1.30. The firm's 50 day moving average price is $52.80 and its 200-day moving average price is $43.65.

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

Analyst Ratings Changes

Several analysts recently issued reports on KRMN shares. Citigroup reissued 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. Royal Bank Of Canada raised their price target on Karman from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Raymond James Financial began coverage on Karman in a research note on Friday, September 5th. They set a "strong-buy" rating and a $100.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, Karman presently has a consensus rating of "Buy" and an average price target of $60.60.

Insider Buying and Selling

In related news, CFO Michael Willis sold 100,000 shares of Karman stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $4,900,000.00. Following the transaction, the chief financial officer directly owned 974,709 shares in the company, valued at $47,760,741. The trade was a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephanie Sawhill sold 62,000 shares of Karman stock in a transaction on Friday, July 25th. The stock was sold at an average price of $49.00, for a total value of $3,038,000.00. Following the completion of the transaction, the insider owned 566,939 shares in the company, valued at $27,780,011. The trade was a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,865,968 shares of company stock valued at $1,169,432,432.

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.