Fred Alger Management LLC Sells 51,080 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Fred Alger Management LLC lessened its position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 4.6% in the third quarter, HoldingsChannel reports. The fund owned 1,068,166 shares of the aerospace company’s stock after selling 51,080 shares during the quarter. Fred Alger Management LLC’s holdings in Kratos Defense & Security Solutions were worth $24,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Kratos Defense & Security Solutions by 582.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,078 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 920 shares during the period. Contravisory Investment Management Inc. grew its holdings in shares of Kratos Defense & Security Solutions by 68.7% during the third quarter. Contravisory Investment Management Inc. now owns 1,090 shares of the aerospace company’s stock valued at $25,000 after buying an additional 444 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Kratos Defense & Security Solutions during the second quarter worth about $30,000. Truvestments Capital LLC acquired a new stake in shares of Kratos Defense & Security Solutions in the 3rd quarter worth about $39,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Kratos Defense & Security Solutions in the 2nd quarter worth about $36,000. Institutional investors own 75.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Robert W. Baird boosted their price objective on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. StockNews.com upgraded Kratos Defense & Security Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday. B. Riley lowered shares of Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and upped their target price for the stock from $24.00 to $26.00 in a research note on Wednesday, October 30th. JMP Securities raised their price target on shares of Kratos Defense & Security Solutions from $27.00 to $30.00 and gave the company a “market outperform” rating in a research report on Monday, November 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.40.

Insider Buying and Selling

In related news, insider Thomas E. Iv Mills sold 6,603 shares of Kratos Defense & Security Solutions stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $24.88, for a total value of $164,282.64. Following the completion of the sale, the insider now owns 23,848 shares of the company’s stock, valued at approximately $593,338.24. This trade represents a 21.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven S. Fendley sold 7,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $26.51, for a total value of $185,570.00. Following the completion of the sale, the insider now owns 349,406 shares in the company, valued at $9,262,753.06. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,620 shares of company stock valued at $1,727,730. 2.27% of the stock is owned by company insiders.

Kratos Defense & Security Solutions Stock Performance

Shares of KTOS stock opened at $27.09 on Friday. Kratos Defense & Security Solutions, Inc. has a 52 week low of $16.71 and a 52 week high of $28.62. The firm’s 50-day simple moving average is $24.86 and its two-hundred day simple moving average is $22.47. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 270.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.61 and a current ratio of 3.22.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.