Karman Holdings Inc.'s (NYSE:KRMN) Lock-Up Period Set To End on August 12th

Key Points

• The lock-up period for Karman Holdings Inc. (NYSE: KRMN), which involves the 23,000,000 shares issued during its public offering, is set to end on August 12th.
• Analysts have shown strong confidence in Karman, with recent upgrades raising price targets to as high as $58.00, while the stock has maintained an average rating of "Buy".
• Karman's shares have been trading upwards, closing at $51.33, reflecting a 2.2% increase recently amidst strong earnings performance and significant insider trading activity.

Karman's (NYSE:KRMN - Get Free Report) lock-up period will end on Tuesday, August 12th. Karman had issued 23,000,000 shares in its public offering on February 13th. The total size of the offering was $506,000,000 based on an initial share price of $22.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analyst Ratings Changes

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

Karman Stock Up 2.2%

Shares of NYSE:KRMN opened at $51.33 on Tuesday. The company's 50-day moving average price is $48.01. The company has a quick ratio of 3.23, a current ratio of 3.34 and a debt-to-equity ratio of 1.15. Karman has a 12 month low of $25.02 and a 12 month high of $57.31.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $95.40 million. Karman's quarterly revenue was up 20.6% compared to the same quarter last year.

Insider Activity at Karman

In related news, insider Stephanie Sawhill sold 62,000 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 value of $3,038,000.00. Following the completion of the transaction, the insider directly owned 566,939 shares of the company's stock, valued at $27,780,011. This represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Spaceco Spv Lp Tcfiii sold 23,623,968 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 $1,157,574,432.00. Following the completion of the transaction, the insider directly owned 50,450,859 shares of the company's stock, valued at approximately $2,472,092,091. The trade was a 31.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,865,968 shares of company stock valued at $1,169,432,432 in the last three months.

Hedge Funds Weigh In On Karman

A number of institutional investors have recently bought and sold shares of the stock. Stephens Investment Management Group LLC purchased a new stake in Karman in the first quarter worth about $8,740,000. Jennison Associates LLC purchased a new stake in Karman in the first quarter worth about $5,740,000. Massachusetts Financial Services Co. MA purchased a new stake in Karman in the first quarter worth about $33,985,000. Phoenix Financial Ltd. purchased a new stake in Karman in the first quarter worth about $435,000. Finally, CenterBook Partners LP purchased a new stake in Karman in the first quarter worth about $1,684,000.

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.

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