Harbor Capital Advisors Inc. Invests $1.86 Million in Karman Holdings Inc. $KRMN

Harbor Capital Advisors Inc. acquired a new stake in Karman Holdings Inc. (NYSE:KRMN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,719 shares of the company’s stock, valued at approximately $1,857,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Karman by 56.4% in the third quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after purchasing an additional 164 shares during the period. M & L Capital Management Ltd acquired a new stake in shares of Karman during the 3rd quarter worth about $1,069,000. Voya Investment Management LLC increased its position in shares of Karman by 50.9% during the 3rd quarter. Voya Investment Management LLC now owns 450,669 shares of the company’s stock worth $32,538,000 after purchasing an additional 151,954 shares during the last quarter. Oak Thistle LLC purchased a new stake in Karman in the 3rd quarter valued at about $1,772,000. Finally, Osaic Holdings Inc. acquired a new position in Karman in the second quarter valued at about $123,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup initiated coverage on shares of Karman in a research note on Thursday, December 11th. They issued a “buy” rating and a $84.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a report on Monday. Royal Bank Of Canada cut their target price on Karman from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. KeyCorp assumed coverage on Karman in a research report on Thursday, December 18th. They set an “overweight” rating and a $80.00 price target for the company. Finally, Truist Financial began coverage on Karman in a report on Friday, October 10th. They issued a “buy” rating and a $89.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $80.43.

Insider Buying and Selling at Karman

In other news, insider Stephanie Sawhill sold 62,000 shares of Karman stock in a transaction dated Thursday, November 13th. The stock was 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jonathan Beaudoin sold 74,000 shares of the company’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 transaction of $4,713,060.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 251,000 shares of company stock valued at $15,419,170 in the last quarter.

Karman Stock Performance

Shares of KRMN stock opened at $81.07 on Friday. The firm has a 50 day moving average of $71.56 and a two-hundred day moving average of $61.48. The stock has a market capitalization of $10.73 billion and a PE ratio of 324.28. 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 Holdings Inc. has a 52 week low of $25.02 and a 52 week high of $88.82.

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

Karman 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.