Lisanti Capital Growth LLC Has $5.91 Million Stake in Karman Holdings Inc. $KRMN

Lisanti Capital Growth LLC raised its position in shares of Karman Holdings Inc. (NYSE:KRMN) by 106.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,894 shares of the company’s stock after acquiring an additional 42,264 shares during the quarter. Karman comprises 1.4% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 20th biggest holding. Lisanti Capital Growth LLC’s holdings in Karman were worth $5,913,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC acquired a new position in Karman in the first quarter valued at approximately $10,199,000. Goldman Sachs Group Inc. bought a new stake in shares of Karman in the 1st quarter valued at $17,371,000. Jane Street Group LLC acquired a new position in shares of Karman during the 1st quarter valued at $532,000. Public Employees Retirement System of Ohio acquired a new position in shares of Karman during the 2nd quarter valued at $414,000. Finally, LBP AM SA bought a new position in Karman during the second quarter worth $459,000.

Karman Stock Down 6.4%

KRMN stock opened at $103.78 on Friday. The stock has a market cap of $13.73 billion and a P/E ratio of 415.12. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $84.22 and its two-hundred day simple moving average is $70.73. Karman Holdings Inc. has a 1-year low of $25.02 and a 1-year high of $118.38.

Karman (NYSE:KRMN) last released its earnings results on Friday, November 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company 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 company’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KRMN. Royal Bank Of Canada lifted their price target on shares of Karman from $85.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, January 22nd. Evercore ISI increased their price target on Karman from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Truist Financial set a $118.00 target price on Karman in a research report on Friday, January 9th. Piper Sandler began coverage on shares of Karman in a research note on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price target for the company. Finally, BWS Financial reissued a “sell” rating and set a $37.00 target price on shares of Karman in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.33.

Insider Buying and Selling at Karman

In other news, COO Jonathan Beaudoin sold 74,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $63.69, for a total transaction of $4,713,060.00. Following the completion of the transaction, the chief operating officer directly owned 666,861 shares of the company’s stock, valued at $42,472,377.09. This represents a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Willis sold 115,000 shares of Karman stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $58.63, for a total transaction of $6,742,450.00. Following the completion of the sale, the chief financial officer directly owned 859,709 shares in the company, valued at $50,404,738.67. This trade represents a 11.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 251,000 shares of company stock worth $15,419,170 over the last three months.

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. 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.