BlueCrest Capital Management Ltd Acquires 30,000 Shares of Karman Holdings Inc. $KRMN

BlueCrest Capital Management Ltd boosted its stake in shares of Karman Holdings Inc. (NYSE:KRMN) by 20.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 180,000 shares of the company’s stock after purchasing an additional 30,000 shares during the period. BlueCrest Capital Management Ltd’s holdings in Karman were worth $9,067,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in Karman in the second quarter valued at about $50,000. Penserra Capital Management LLC purchased a new position in Karman in the second quarter valued at approximately $95,000. Amalgamated Bank bought a new position in Karman during the second quarter valued at $100,000. US Bancorp DE bought a new position in Karman during the first quarter valued at $124,000. Finally, Teacher Retirement System of Texas purchased a new stake in Karman in the second quarter worth $202,000.

Analyst Ratings Changes

Several research firms have recently weighed in on KRMN. Truist Financial initiated coverage on Karman in a research note on Friday, October 10th. They set a “buy” rating and a $89.00 price target for the company. Raymond James Financial assumed coverage on shares of Karman in a research report on Friday, September 5th. They set a “strong-buy” rating and a $100.00 target price for the company. Royal Bank Of Canada reduced their target price on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Citigroup initiated coverage on shares of Karman in a research note on Thursday. They set a “buy” rating and a $84.00 price target on the stock. Finally, Evercore ISI raised their price objective on shares of Karman from $58.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $80.50.

Karman Trading Down 1.2%

Shares of KRMN opened at $68.57 on Friday. The business’s 50-day moving average price is $72.03 and its 200-day moving average price is $59.66. Karman Holdings Inc. has a twelve month low of $25.02 and a twelve month high of $88.82. The stock has a market cap of $9.07 billion and a PE ratio of 274.28. The company has a quick ratio of 2.69, a current ratio of 2.86 and a debt-to-equity ratio of 1.27.

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

Insider Buying and Selling at Karman

In other news, insider Stephanie Sawhill sold 62,000 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total transaction of $3,963,660.00. Following the completion of the transaction, the insider directly owned 504,939 shares in the company, valued at $32,280,750.27. The trade was a 10.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Beaudoin sold 74,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total transaction of $4,713,060.00. Following the completion of the transaction, the chief operating officer directly owned 666,861 shares in the company, valued at approximately $42,472,377.09. The trade was a 9.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 251,000 shares of company stock valued at $15,419,170 in the last three months.

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.