Assetmark Inc. Acquires New Position in Karman Holdings Inc. $KRMN

Assetmark Inc. bought a new position in shares of Karman Holdings Inc. (NYSE:KRMN) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,232 shares of the company’s stock, valued at approximately $979,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Karman by 83.7% in the 4th quarter. GAMMA Investing LLC now owns 373 shares of the company’s stock valued at $27,000 after buying an additional 170 shares during the period. EverSource Wealth Advisors LLC raised its position in Karman by 889.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company’s stock valued at $28,000 after purchasing an additional 347 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Karman in the 3rd quarter valued at about $29,000. Huntington National Bank purchased a new position in shares of Karman in the 4th quarter valued at about $32,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Karman during the fourth quarter worth about $32,000.

Karman Stock Down 3.9%

KRMN stock opened at $47.76 on Friday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 3.38 and a current ratio of 3.53. Karman Holdings Inc. has a one year low of $43.68 and a one year high of $118.38. The company has a fifty day moving average of $52.30 and a 200-day moving average of $76.63. The stock has a market capitalization of $6.33 billion, a PE ratio of 207.66 and a beta of 0.51.

Karman (NYSE:KRMN) last issued its earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $151.21 million for the quarter, compared to analyst estimates of $150.19 million. Karman had a net margin of 5.73% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, analysts expect that Karman Holdings Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

KRMN has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Karman in a research note on Thursday, April 9th. Piper Sandler lowered their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, May 19th. Evercore set a $100.00 price objective on shares of Karman in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of Karman from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Finally, Citigroup reduced their price objective on shares of Karman from $97.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Karman presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

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. 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.