Assetmark Inc. Makes New $979,000 Investment 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 Form 13F filing with the SEC. The institutional investor bought 12,232 shares of the company’s stock, valued at approximately $979,000.

A number of other institutional investors have also recently modified their holdings of the business. AustralianSuper Pty Ltd acquired a new position in Karman during the fourth quarter worth $33,679,000. UBS Group AG increased its stake in shares of Karman by 103.7% in the 4th quarter. UBS Group AG now owns 926,976 shares of the company’s stock worth $67,827,000 after acquiring an additional 471,894 shares during the last quarter. Aubrey Capital Management Ltd acquired a new stake in shares of Karman in the 4th quarter worth $3,687,000. Mass General Brigham Inc purchased a new position in shares of Karman during the 4th quarter worth $114,295,000. Finally, Vanguard Group Inc. raised its holdings in shares of Karman by 151.1% during the 4th quarter. Vanguard Group Inc. now owns 9,342,230 shares of the company’s stock worth $683,571,000 after acquiring an additional 5,621,556 shares during the period.

Karman Stock Down 3.9%

Shares of KRMN opened at $47.76 on Friday. The firm has a market cap of $6.33 billion, a P/E ratio of 207.66 and a beta of 0.51. Karman Holdings Inc. has a 12-month low of $43.68 and a 12-month high of $118.38. The company’s 50-day moving average price is $52.30 and its 200 day moving average price is $76.63. The company has a current ratio of 3.53, a quick ratio of 3.38 and a debt-to-equity ratio of 2.08.

Karman (NYSE:KRMN) last announced 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. Karman had a net margin of 5.73% and a return on equity of 14.94%. The company had revenue of $151.21 million during the quarter, compared to analyst estimates of $150.19 million. During the same quarter last year, the firm posted $0.05 earnings per share. Karman’s revenue was up 51.0% compared to the same quarter last year. On average, sell-side analysts forecast that Karman Holdings Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on KRMN shares. BWS Financial reissued a “sell” rating and issued a $37.00 price objective on shares of Karman in a report on Monday, May 18th. KeyCorp decreased their target price on shares of Karman from $122.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Truist Financial raised shares of Karman to a “strong-buy” rating in a research note on Friday, May 1st. Citigroup cut their price target on shares of Karman from $97.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Piper Sandler reduced their price target on shares of Karman from $127.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Karman currently has a consensus rating of “Moderate Buy” and an average 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.