K2 Principal Fund L.P. Reduces Stock Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

K2 Principal Fund L.P. trimmed its position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 59.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,280 shares of the aerospace company's stock after selling 29,678 shares during the period. K2 Principal Fund L.P.'s holdings in Kratos Defense & Security Solutions were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC bought a new position in Kratos Defense & Security Solutions in the 3rd quarter valued at $1,772,000. XTX Topco Ltd purchased a new position in shares of Kratos Defense & Security Solutions in the 3rd quarter worth about $606,000. Weiss Asset Management LP bought a new position in Kratos Defense & Security Solutions during the third quarter valued at about $402,000. Portolan Capital Management LLC grew its position in Kratos Defense & Security Solutions by 9.0% during the third quarter. Portolan Capital Management LLC now owns 1,776,740 shares of the aerospace company's stock valued at $41,398,000 after buying an additional 146,319 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Kratos Defense & Security Solutions during the third quarter worth about $1,090,000. Hedge funds and other institutional investors own 75.92% of the company's stock.

Kratos Defense & Security Solutions Price Performance

Shares of NASDAQ:KTOS traded up $0.69 during trading on Friday, reaching $27.99. The company had a trading volume of 840,008 shares, compared to its average volume of 1,178,878. Kratos Defense & Security Solutions, Inc. has a 12 month low of $16.71 and a 12 month high of $28.62. The company has a current ratio of 3.22, a quick ratio of 2.61 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4.23 billion, a P/E ratio of 279.93 and a beta of 1.07. The company has a fifty day moving average of $25.27 and a two-hundred day moving average of $22.72.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Stacey G. Rock sold 4,000 shares of Kratos Defense & Security Solutions stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $26.73, for a total value of $106,920.00. Following the transaction, the insider now owns 47,007 shares in the company, valued at $1,256,497.11. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Benjamin M. Goodwin sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $27.71, for a total transaction of $138,550.00. Following the sale, the senior vice president now owns 37,327 shares of the company's stock, valued at approximately $1,034,331.17. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,620 shares of company stock valued at $1,770,970 over the last 90 days. 2.27% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on KTOS. Truist Financial reissued a "buy" rating and set a $27.00 target price (up from $25.00) on shares of Kratos Defense & Security Solutions in a research report on Thursday, September 26th. Robert W. Baird increased their price objective on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, September 23rd. B. Riley downgraded Kratos Defense & Security Solutions from a "buy" rating to a "neutral" rating and raised their target price for the stock from $24.00 to $26.00 in a research report on Wednesday, October 30th. JMP Securities upped their price target on 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, StockNews.com raised Kratos Defense & Security Solutions from a "sell" rating to a "hold" rating in a report on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.40.

Kratos Defense & Security Solutions Company Profile

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.