Verition Fund Management LLC Boosts Stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Verition Fund Management LLC boosted its stake in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 232.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,703 shares of the aerospace company's stock after purchasing an additional 41,070 shares during the period. Verition Fund Management LLC's holdings in Kratos Defense & Security Solutions were worth $1,368,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KTOS. Rockefeller Capital Management L.P. purchased a new stake in Kratos Defense & Security Solutions during the third quarter valued at $6,310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Kratos Defense & Security Solutions by 8.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,051 shares of the aerospace company's stock valued at $6,315,000 after purchasing an additional 20,311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Kratos Defense & Security Solutions by 6.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,584 shares of the aerospace company's stock worth $783,000 after buying an additional 2,018 shares during the last quarter. FMR LLC increased its holdings in Kratos Defense & Security Solutions by 6.1% during the third quarter. FMR LLC now owns 4,032,888 shares of the aerospace company's stock valued at $93,966,000 after buying an additional 233,051 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Kratos Defense & Security Solutions in the third quarter worth approximately $39,000. 75.92% of the stock is currently owned by hedge funds and other institutional investors.

Kratos Defense & Security Solutions Trading Up 2.5 %

NASDAQ KTOS traded up $0.69 during trading hours on Friday, hitting $27.99. 840,008 shares of the company were exchanged, compared to its average volume of 1,178,878. The stock has a market cap of $4.23 billion, a PE ratio of 279.93 and a beta of 1.07. Kratos Defense & Security Solutions, Inc. has a 52 week low of $16.71 and a 52 week high of $28.62. The stock has a 50-day moving average price of $25.27 and a 200 day moving average price of $22.71. The company has a quick ratio of 2.61, a current ratio of 3.22 and a debt-to-equity ratio of 0.13.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KTOS. Robert W. Baird upped their price objective on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. JMP Securities raised their target price on shares of Kratos Defense & Security Solutions from $27.00 to $30.00 and gave the stock a "market outperform" rating in a research note on Monday, November 11th. Truist Financial reiterated a "buy" rating and issued a $27.00 price target (up previously from $25.00) on shares of Kratos Defense & Security Solutions in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of Kratos Defense & Security Solutions from a "sell" rating to a "hold" rating in a research report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.40.

Insider Transactions at Kratos Defense & Security Solutions

In other news, SVP Benjamin M. Goodwin sold 5,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $27.71, for a total transaction of $138,550.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Deanna H. Lund sold 6,000 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $26.73, for a total value of $160,380.00. Following the transaction, the chief financial officer now owns 267,708 shares in the company, valued at $7,155,834.84. The trade was a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,620 shares of company stock worth $1,770,970. 2.27% of the stock is currently owned by insiders.

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.