Assenagon Asset Management S.A. Cuts Stock Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Assenagon Asset Management S.A. lessened its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 67.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,730 shares of the aerospace company’s stock after selling 37,031 shares during the period. Assenagon Asset Management S.A.’s holdings in Kratos Defense & Security Solutions were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KTOS. MassMutual Private Wealth & Trust FSB grew its holdings in Kratos Defense & Security Solutions by 202.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,046 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 700 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Kratos Defense & Security Solutions by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,284 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 610 shares in the last quarter. Capital Advisors Ltd. LLC acquired a new stake in Kratos Defense & Security Solutions during the 4th quarter valued at $53,000. SBI Securities Co. Ltd. acquired a new stake in Kratos Defense & Security Solutions during the 4th quarter valued at $55,000. Finally, MRP Capital Investments LLC grew its holdings in Kratos Defense & Security Solutions by 28.6% during the 4th quarter. MRP Capital Investments LLC now owns 2,250 shares of the aerospace company’s stock valued at $59,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.92% of the company’s stock.

Analyst Upgrades and Downgrades

KTOS has been the subject of a number of recent analyst reports. Noble Financial raised their price target on shares of Kratos Defense & Security Solutions from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday. Wall Street Zen lowered shares of Kratos Defense & Security Solutions from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Royal Bank Of Canada raised their price objective on shares of Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Benchmark raised their price objective on shares of Kratos Defense & Security Solutions from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Truist Financial raised their price objective on shares of Kratos Defense & Security Solutions from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.78.

Insider Buying and Selling at Kratos Defense & Security Solutions

In other news, SVP Marie Mendoza sold 2,419 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.87, for a total value of $101,283.53. Following the completion of the sale, the senior vice president now directly owns 67,488 shares of the company’s stock, valued at approximately $2,825,722.56. This represents a 3.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Phillip D. Carrai sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $42.16, for a total transaction of $252,960.00. Following the completion of the sale, the insider now directly owns 276,085 shares of the company’s stock, valued at approximately $11,639,743.60. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,572 shares of company stock valued at $5,251,396 in the last ninety days. Company insiders own 2.37% of the company’s stock.

Kratos Defense & Security Solutions Trading Down 2.5%

Kratos Defense & Security Solutions stock opened at $42.16 on Friday. The firm’s 50-day moving average is $36.27 and its 200-day moving average is $31.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.26 and a current ratio of 2.84. Kratos Defense & Security Solutions, Inc. has a 1 year low of $17.91 and a 1 year high of $44.13. The company has a market cap of $6.47 billion, a P/E ratio of 324.33 and a beta of 0.99.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last posted its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Kratos Defense & Security Solutions had a net margin of 1.68% and a return on equity of 3.85%. The company had revenue of $302.60 million for the quarter, compared to the consensus estimate of $292.25 million. During the same period last year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current year.

Kratos Defense & Security Solutions Profile

Kratos Defense & Security Solutions, Inc engages in the provision of mission critical products, services and solutions for United States national security priorities. It operates through the Kratos Government Solutions (KGS) and Unmanned Systems (US) segments. The KGS segment consists of an aggregation of KGS operating segments, including microwave electronic products, space, satellite and cyber, training solutions.