Insider Selling: Karman Holdings Inc. (NYSE:KRMN) Insider Sells 62,000 Shares of Stock

Key Points

• Stephanie Sawhill, an insider at Karman Holdings Inc., sold 62,000 shares amounting to $3,038,000, decreasing her ownership in the company by nearly 10%.
• Karman Holdings reported a quarterly earnings per share (EPS) of $0.05, surpassing analyst expectations by $0.03 and showing a year-over-year revenue growth of 20.6%.
• Several analysts have raised their price targets for Karman Holdings, with Citigroup setting a new target at $58.00, amid a consensus rating of "Buy" from multiple equities research analysts.

Karman Holdings Inc. (NYSE:KRMN - Get Free Report) insider Stephanie Sawhill sold 62,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 566,939 shares of the company's stock, valued at $27,780,011. This trade represents a 9.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Karman Trading Down 1.3%

NYSE:KRMN traded down $0.68 during trading hours on Friday, reaching $51.02. 335,268 shares of the company were exchanged, compared to its average volume of 1,156,719. The firm 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. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.34 and a quick ratio of 3.23.

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

Institutional Investors Weigh In On Karman

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new stake in Karman during the second quarter worth $762,000. Stephens Investment Management Group LLC boosted its holdings in shares of Karman by 32.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 346,916 shares of the company's stock worth $17,474,000 after purchasing an additional 85,403 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of Karman in the 2nd quarter worth about $17,150,000. TD Asset Management Inc boosted its holdings in shares of Karman by 50.5% in the 2nd quarter. TD Asset Management Inc now owns 41,654 shares of the company's stock worth $2,098,000 after purchasing an additional 13,984 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in shares of Karman in the 2nd quarter worth about $726,000.

Wall Street Analyst Weigh In

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

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.