Fred Alger Management LLC Takes $11.16 Million Position in Karman Holdings Inc. $KRMN

Fred Alger Management LLC bought a new position in Karman Holdings Inc. (NYSE:KRMN) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 154,588 shares of the company’s stock, valued at approximately $11,161,000.

A number of other hedge funds also recently made changes to their positions in KRMN. Farther Finance Advisors LLC grew its holdings in Karman by 56.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $33,000 after buying an additional 164 shares in the last quarter. Amalgamated Bank increased its stake in Karman by 9.4% in the 3rd quarter. Amalgamated Bank now owns 2,183 shares of the company’s stock worth $158,000 after acquiring an additional 188 shares during the last quarter. Barclays PLC raised its holdings in shares of Karman by 2.2% during the 3rd quarter. Barclays PLC now owns 12,964 shares of the company’s stock worth $936,000 after acquiring an additional 273 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Karman during the 3rd quarter valued at approximately $29,000. Finally, Global Retirement Partners LLC boosted its position in shares of Karman by 5,718.2% during the 3rd quarter. Global Retirement Partners LLC now owns 640 shares of the company’s stock valued at $46,000 after acquiring an additional 629 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on KRMN. Piper Sandler upgraded shares of Karman from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $127.00 in a research report on Friday, March 6th. Evercore lifted their price objective on shares of Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Raymond James Financial restated a “strong-buy” rating and set a $130.00 target price on shares of Karman in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their price target on shares of Karman from $85.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Finally, KeyCorp lifted their price target on Karman from $80.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Karman has an average rating of “Moderate Buy” and an average target price of $108.40.

Karman Price Performance

Shares of KRMN stock opened at $104.24 on Tuesday. The stock has a 50 day moving average price of $97.31 and a 200 day moving average price of $79.83. Karman Holdings Inc. has a 52-week low of $25.02 and a 52-week high of $118.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.69 and a current ratio of 2.86. The firm has a market capitalization of $13.79 billion and a P/E ratio of 416.94.

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.