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

BlueCrest Capital Management Ltd lifted its stake in shares of Karman Holdings Inc. (NYSE:KRMN) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 180,000 shares of the company’s stock after buying an additional 30,000 shares during the quarter. BlueCrest Capital Management Ltd owned about 0.14% of Karman worth $9,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bamco Inc. NY boosted its stake in Karman by 0.6% during the second quarter. Bamco Inc. NY now owns 2,415,134 shares of the company’s stock worth $121,650,000 after acquiring an additional 14,486 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Karman by 60.1% during the second quarter. Ameriprise Financial Inc. now owns 828,026 shares of the company’s stock valued at $41,708,000 after purchasing an additional 310,716 shares during the period. Jane Street Group LLC boosted its position in shares of Karman by 221.0% during the 2nd quarter. Jane Street Group LLC now owns 51,125 shares of the company’s stock worth $2,575,000 after purchasing an additional 35,200 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of Karman in the 2nd quarter valued at about $1,247,000. Finally, Raymond James Financial Inc. bought a new stake in Karman in the 2nd quarter valued at about $15,285,000.

Karman Stock Down 1.2%

Shares of NYSE:KRMN opened at $68.57 on Friday. The business’s 50 day moving average is $72.03 and its 200 day moving average is $59.66. Karman Holdings Inc. has a 12-month low of $25.02 and a 12-month high of $88.82. The stock has a market cap of $9.07 billion and a price-to-earnings 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 issued its quarterly earnings data on Friday, November 7th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Karman had a return on equity of 11.11% and a net margin of 2.65%.The business had revenue of $121.79 million for the quarter. During the same quarter last year, the business posted $0.04 earnings per share. Karman’s revenue was up 41.7% on a year-over-year basis.

Analyst Ratings Changes

KRMN has been the topic of several recent research reports. Raymond James Financial assumed coverage on Karman in a report on Friday, September 5th. They issued a “strong-buy” rating and a $100.00 price target on the stock. Truist Financial began coverage on Karman in a report on Friday, October 10th. They issued a “buy” rating and a $89.00 target price on the stock. Royal Bank Of Canada reduced their price target on shares of Karman from $93.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Karman in a research note on Monday. Finally, Evercore ISI raised their price objective on shares of Karman from $58.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Karman has a consensus rating of “Buy” and an average target price of $80.50.

Insider Activity at Karman

In other Karman news, insider Stephanie Sawhill sold 62,000 shares of the stock in a transaction dated 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 sale, the insider owned 504,939 shares in the company, valued at approximately $32,280,750.27. This trade represents a 10.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $63.69, for a total value of $4,713,060.00. Following the completion of the transaction, the chief operating officer owned 666,861 shares in the company, valued at $42,472,377.09. The trade was a 9.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 251,000 shares of company stock valued at $15,419,170 over the last ninety days.

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.