Soros Fund Management LLC Grows Stake in Karman Holdings Inc. $KRMN

Soros Fund Management LLC grew its stake in shares of Karman Holdings Inc. (NYSE:KRMN) by 5.9% during the second quarter, HoldingsChannel reports. The firm owned 464,280 shares of the company’s stock after buying an additional 25,700 shares during the period. Soros Fund Management LLC’s holdings in Karman were worth $23,386,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of KRMN. Alliancebernstein L.P. lifted its position in Karman by 4.9% during the 2nd quarter. Alliancebernstein L.P. now owns 1,166,976 shares of the company’s stock worth $58,781,000 after acquiring an additional 54,421 shares in the last quarter. Treasurer of the State of North Carolina acquired a new stake in Karman during the 2nd quarter valued at $624,000. Sei Investments Co. purchased a new position in Karman in the 2nd quarter valued at about $3,470,000. Nebula Research & Development LLC purchased a new stake in shares of Karman during the second quarter worth about $3,491,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Karman during the second quarter worth about $6,789,000.

Analysts Set New Price Targets

KRMN has been the topic of several analyst reports. Citigroup initiated coverage on Karman in a research report on Thursday. They issued a “buy” rating on the stock. Evercore ISI lifted their price target on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Royal Bank Of Canada reduced their price objective on shares of Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Karman in a report on Monday. Finally, Raymond James Financial assumed coverage on shares of Karman in a research note on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $76.17.

Karman Price Performance

NYSE KRMN opened at $69.38 on Friday. The company has a 50-day moving average price of $72.11 and a two-hundred day moving average price of $59.47. The stock has a market cap of $9.18 billion and a price-to-earnings ratio of 277.52. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. Karman Holdings Inc. has a 52 week low of $25.02 and a 52 week high of $88.82.

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

Insider Transactions at Karman

In other news, CFO Michael Willis sold 115,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the transaction, the chief financial officer directly owned 859,709 shares of the company’s stock, valued at approximately $50,404,738.67. This trade represents a 11.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Sawhill sold 62,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the completion of the sale, the insider directly owned 504,939 shares of the company’s stock, valued at $32,280,750.27. The trade was a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 251,000 shares of company stock valued at $15,419,170.

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.