Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Stock Position Reduced by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 44.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,753 shares of the aerospace company's stock after selling 72,816 shares during the quarter. Oppenheimer & Co. Inc. owned 0.06% of Kratos Defense & Security Solutions worth $2,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. increased its holdings in shares of Kratos Defense & Security Solutions by 68.7% in the 3rd quarter. Contravisory Investment Management Inc. now owns 1,090 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 444 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Kratos Defense & Security Solutions by 0.9% during the 2nd quarter. Arkadios Wealth Advisors now owns 55,630 shares of the aerospace company's stock worth $1,113,000 after buying an additional 500 shares during the period. Wealth Quarterback LLC lifted its holdings in Kratos Defense & Security Solutions by 3.9% in the third quarter. Wealth Quarterback LLC now owns 13,998 shares of the aerospace company's stock worth $326,000 after acquiring an additional 528 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 worth $25,000 after acquiring an additional 920 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Kratos Defense & Security Solutions by 1.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 87,847 shares of the aerospace company's stock valued at $2,047,000 after acquiring an additional 1,060 shares during the period. Institutional investors and hedge funds own 75.92% of the company's stock.

Wall Street Analyst Weigh In

KTOS has been the topic of several analyst reports. B. Riley downgraded Kratos Defense & Security Solutions from a "buy" rating to a "neutral" rating and increased their price target for the company from $24.00 to $26.00 in a report on Wednesday, October 30th. Benchmark restated a "buy" rating and issued a $25.00 price target on shares of Kratos Defense & Security Solutions in a report on Friday, September 13th. Truist Financial restated a "buy" rating and set a $27.00 price objective (up from $25.00) on shares of Kratos Defense & Security Solutions in a research report on Thursday, September 26th. StockNews.com cut shares of Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a research note on Monday, November 11th. Finally, JMP Securities increased 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 note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $25.40.

Kratos Defense & Security Solutions Stock Performance

Shares of Kratos Defense & Security Solutions stock traded down $0.86 during midday trading on Friday, hitting $24.42. The company had a trading volume of 1,394,579 shares, compared to its average volume of 1,050,472. The company has a fifty day simple moving average of $24.07 and a 200 day simple moving average of $22.00. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 244.22 and a beta of 1.02. The company has a quick ratio of 2.61, a current ratio of 3.22 and a debt-to-equity ratio of 0.13. Kratos Defense & Security Solutions, Inc. has a 12-month low of $16.71 and a 12-month high of $28.62.

Insider Activity

In other news, SVP Benjamin M. Goodwin sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $27.71, for a total transaction of $138,550.00. Following the completion of the transaction, the senior vice president now directly owns 37,327 shares of the company's stock, valued at approximately $1,034,331.17. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric M. Demarco bought 11,980 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average cost of $20.89 per share, for a total transaction of $250,262.20. Following the acquisition, the chief executive officer now directly owns 1,070,244 shares of the company's stock, valued at $22,357,397.16. The trade was a 1.13 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 71,620 shares of company stock worth $1,700,220 over the last 90 days. 2.27% of the stock is currently owned by company insiders.

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.