Fred Alger Management LLC Acquires New Shares in Karman Holdings Inc. $KRMN

Fred Alger Management LLC acquired a new position in Karman Holdings Inc. (NYSE:KRMN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 154,588 shares of the company’s stock, valued at approximately $11,161,000. Fred Alger Management LLC owned approximately 0.12% of Karman as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Focus Partners Wealth bought a new position in Karman during the 3rd quarter valued at about $12,056,000. Fortress Investment Group LLC bought a new stake in shares of Karman in the third quarter worth approximately $43,320,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Karman during the third quarter valued at approximately $303,000. Cinctive Capital Management LP purchased a new position in shares of Karman during the third quarter valued at approximately $2,069,000. Finally, Bank of America Corp DE lifted its position in Karman by 443.3% during the third quarter. Bank of America Corp DE now owns 532,562 shares of the company’s stock valued at $38,451,000 after purchasing an additional 434,546 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on KRMN. Royal Bank Of Canada raised their target price on shares of Karman from $85.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Truist Financial set a $118.00 price target on Karman in a report on Friday, January 9th. Raymond James Financial restated a “strong-buy” rating and issued a $130.00 price target on shares of Karman in a research note on Thursday, January 22nd. Piper Sandler raised Karman from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $127.00 in a report on Friday, March 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Karman in a research report on Monday, December 29th. One equities research 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’s stock. According to data from MarketBeat, Karman has an average rating of “Moderate Buy” and an average price target of $108.40.

Karman Trading Up 4.3%

Karman stock opened at $104.24 on Tuesday. Karman Holdings Inc. has a 1 year low of $25.02 and a 1 year high of $118.38. The firm’s 50 day moving average price is $97.31 and its 200-day moving average price is $79.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.86 and a quick ratio of 2.69. The stock has a market cap of $13.79 billion and a P/E ratio of 416.94.

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.