Penserra Capital Management LLC Purchases 8,632 Shares of Karman Holdings Inc. $KRMN

Penserra Capital Management LLC boosted its holdings in shares of Karman Holdings Inc. (NYSE:KRMN) by 457.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,521 shares of the company’s stock after acquiring an additional 8,632 shares during the period. Penserra Capital Management LLC’s holdings in Karman were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Karman by 56.4% during the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares during the period. Global Retirement Partners LLC increased its stake in Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock worth $46,000 after purchasing an additional 629 shares in the last quarter. Amalgamated Bank acquired a new stake in Karman during the 2nd quarter worth approximately $100,000. Wilmington Savings Fund Society FSB bought a new position in Karman in the third quarter valued at approximately $101,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Karman in the third quarter valued at approximately $116,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KRMN. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $130.00 price objective on shares of Karman in a research report on Thursday, January 22nd. Citigroup boosted their price target on Karman from $123.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Royal Bank Of Canada upped their price objective on Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. BWS Financial reissued a “sell” rating and issued a $37.00 target price on shares of Karman in a research report on Thursday, January 22nd. Finally, Truist Financial set a $118.00 target price on Karman in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.33.

Karman Price Performance

NYSE:KRMN opened at $95.44 on Friday. Karman Holdings Inc. has a 52-week low of $25.02 and a 52-week high of $118.38. The company has a market cap of $12.63 billion and a P/E ratio of 381.76. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The stock’s 50-day simple moving average is $87.55 and its 200 day simple moving average is $72.46.

Karman (NYSE:KRMN) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm 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 revenue for the quarter was up 41.7% on a year-over-year basis. During the same period last year, the company posted $0.04 earnings per share.

Insider Activity

In related news, insider Stephanie Sawhill sold 62,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $63.93, for a total value of $3,963,660.00. Following the completion of the transaction, the insider directly owned 504,939 shares of the company’s stock, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Willis sold 115,000 shares of the company’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 sale, the chief financial officer directly owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 251,000 shares of company stock valued at $15,419,170.

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. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.