Wedbush Securities Inc. increased its stake in Karman Holdings Inc. (NYSE:KRMN – Free Report) by 243.9% during the third quarter, HoldingsChannel reports. The firm owned 20,952 shares of the company’s stock after acquiring an additional 14,859 shares during the period. Wedbush Securities Inc.’s holdings in Karman were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of KRMN. Parkside Financial Bank & Trust lifted its stake in Karman by 3,471.4% in the second quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock valued at $25,000 after purchasing an additional 486 shares during the last quarter. CX Institutional purchased a new stake in Karman in the second quarter worth $28,000. Tsfg LLC purchased a new stake in Karman in the second quarter worth $30,000. Hilltop National Bank raised its stake in shares of Karman by 87.8% in the second quarter. Hilltop National Bank now owns 1,258 shares of the company’s stock valued at $63,000 after buying an additional 588 shares during the period. Finally, GK Wealth Management LLC bought a new stake in shares of Karman in the third quarter valued at $65,000.
Karman Stock Performance
NYSE:KRMN opened at $37.04 on Tuesday. Karman Holdings Inc. has a twelve month low of $29.34 and a twelve month high of $118.38. The stock has a market cap of $4.91 billion, a P/E ratio of 79.67 and a beta of 0.64. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01. The business’s 50-day moving average price is $39.14 and its two-hundred day moving average price is $65.76.
Karman (NYSE:KRMN – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $182.06 million during the quarter. Karman had a net margin of 6.31% and a return on equity of 15.54%. Karman’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, equities analysts predict that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.
Insider Activity
In related news, Director David Stinnett acquired 27,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of $37.32 per share, with a total value of $1,007,640.00. Following the acquisition, the director owned 3,530,395 shares of the company’s stock, valued at approximately $131,754,341.40. The trade was a 0.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.77% of the company’s stock.
Analyst Ratings Changes
KRMN has been the topic of a number of recent research reports. Guggenheim started coverage on Karman in a research report on Monday, September 14th. They set a “buy” rating and a $63.00 price target on the stock. Citigroup lifted their price objective on Karman from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Oppenheimer began coverage on Karman in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Needham & Company LLC dropped their price objective on shares of Karman from $125.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Barclays assumed coverage on shares of Karman in a research report on Friday, October 9th. They set an “overweight” rating and a $79.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Karman currently has a consensus rating of “Moderate Buy” and an average target price of $78.29.
Read Our Latest Report on KRMN
Karman Company Profile
Karman Holdings Corp., doing business as Karman Space & Defense, is an aerospace and defense company that develops and manufactures mission-critical components, assemblies and structures. Its products are used in space-launch vehicles, missiles, hypersonic systems and other defense applications where performance, reliability and precision are essential.
The company’s capabilities include the production of composite and metallic structures, propulsion-related components, precision-machined parts and other highly engineered hardware.
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