Insider Selling: Karman (NYSE:KRMN) CFO Sells 115,000 Shares of Stock

Karman Holdings Inc. (NYSE:KRMN) CFO Michael Willis sold 115,000 shares of Karman stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.63, for a total value of $6,742,450.00. Following the transaction, the chief financial officer directly owned 859,709 shares in the company, valued at approximately $50,404,738.67. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Karman Stock Up 1.4%

Shares of Karman stock traded up $0.79 on Tuesday, hitting $59.07. 930,597 shares of the company traded hands, compared to its average volume of 1,291,392. Karman Holdings Inc. has a 12-month low of $25.02 and a 12-month high of $88.82. The company has a quick ratio of 2.69, a current ratio of 2.86 and a debt-to-equity ratio of 1.27. The company has a market cap of $7.82 billion and a PE ratio of 236.22. The company has a 50-day moving average price of $73.00 and a 200 day moving average price of $56.76.

Karman (NYSE:KRMN) last released its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The firm had revenue of $121.79 million during the quarter. During the same period in the previous year, the business posted $0.04 EPS. Karman’s revenue for the quarter was up 41.7% on a year-over-year basis.

Institutional Investors Weigh In On Karman

Several institutional investors and hedge funds have recently bought and sold shares of KRMN. Baird Financial Group Inc. acquired a new position in shares of Karman in the 1st quarter worth approximately $1,632,000. Sapient Capital LLC bought a new stake in shares of Karman in the 2nd quarter worth about $615,000. Stephens Investment Management Group LLC lifted its holdings in Karman by 32.7% during the 2nd quarter. Stephens Investment Management Group LLC now owns 346,916 shares of the company’s stock valued at $17,474,000 after purchasing an additional 85,403 shares during the last quarter. Woodline Partners LP acquired a new position in Karman in the first quarter valued at about $5,700,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Karman during the first quarter worth approximately $4,293,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KRMN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research note on Monday. Royal Bank Of Canada dropped their price objective on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Raymond James Financial initiated coverage on Karman in a research note on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price for the company. Evercore ISI lifted their price target on Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Truist Financial initiated coverage on Karman in a report on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $76.17.

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.