Michael Willis Sells 100,000 Shares of Karman Holdings Inc. (NYSE:KRMN) Stock

Key Points

• Karman Holdings Inc. CFO Michael Willis sold 100,000 shares at $49.00 each, totaling $4.9 million, and now owns 974,709 shares, a 9.3% decrease in ownership.
• After the sale, Karman's stock rose 1.8% to $51.20, with an average rating of "Buy" and a price target of $49.25 from analysts.
• Major institutional investors, including Vanguard Group and T. Rowe Price, have recently acquired substantial stakes in Karman Holdings, signaling strong interest in the stock.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) CFO Michael Willis sold 100,000 shares of Karman stock in a transaction on Friday, July 25th. The shares were sold at an average price of $49.00, for a total value 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. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Karman Trading Down 1.3%

KRMN stock traded down $0.68 during midday trading on Friday, reaching $51.02. 335,268 shares of the company's stock traded hands, compared to its average volume of 1,156,719. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23. The business has a 50-day moving average of $47.65. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $100.12 million during the quarter, compared to the consensus estimate of $95.40 million. The business's quarterly revenue was up 20.6% on a year-over-year basis.

Institutional Trading of Karman

Several hedge funds and other institutional investors have recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in shares of Karman in the second quarter valued at about $50,000. SBI Securities Co. Ltd. bought a new position in Karman during the first quarter worth about $107,000. US Bancorp DE bought a new position in Karman during the first quarter worth about $124,000. Hollencrest Capital Management bought a new position in Karman during the first quarter worth about $155,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Karman during the first quarter worth about $170,000.

Wall Street Analysts Forecast Growth

KRMN has been the subject of a number of analyst reports. Citigroup reaffirmed a "buy" rating and issued a $58.00 price target (up previously from $46.50) on shares of Karman in a research report on Monday, June 9th. Royal Bank Of Canada increased their target price on Karman from $44.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, Robert W. Baird increased their target price on Karman from $40.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Karman currently has an average rating of "Buy" and a consensus price target of $49.25.

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.