Kratos Defense & Security Solutions, Inc. $KTOS Shares Acquired by Castleark Management LLC
Castleark Management LLC increased its holdings in Kratos Defense & Security Solutions, Inc. by 34.8% in Q2, owning 174,166 shares worth $8.09 million. Other hedge funds also adjusted their stakes. Analysts have mixed ratings on KTOS, with an average price target of $82.06. Insiders sold shares worth $33.89 million last quarter. KTOS stock opened at $75.96 on Friday, with a market cap of $12.83 billion.
Castleark Management LLC boosted its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 34.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 174,166 shares of the aerospace company's stock after purchasing an additional 44,996 shares during the quarter. Castleark Management LLC owned approximately 0.10% of Kratos Defense & Security Solutions worth $8,090,000 as of its most recent filing with the Securities and Exchange Commission.
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A number of other hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Kratos Defense & Security Solutions by 448.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,352 shares of the aerospace company's stock valued at $278,000 after acquiring an additional 7,647 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Kratos Defense & Security Solutions by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,574,099 shares of the aerospace company's stock worth $46,735,000 after purchasing an additional 60,662 shares during the last quarter. Townsquare Capital LLC purchased a new position in Kratos Defense & Security Solutions during the first quarter worth approximately $522,000. Invesco Ltd. boosted its holdings in shares of Kratos Defense & Security Solutions by 75.2% in the 1st quarter. Invesco Ltd. now owns 2,402,444 shares of the aerospace company's stock valued at $71,329,000 after purchasing an additional 1,031,223 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Kratos Defense & Security Solutions during the 1st quarter valued at $41,118,000. 75.92% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
KTOS has been the topic of several research reports. B. Riley lowered Kratos Defense & Security Solutions from a "buy" rating to a "neutral" rating and increased their target price for the stock from $72.00 to $105.00 in a research report on Wednesday, October 8th. JMP Securities lifted their price objective on Kratos Defense & Security Solutions from $70.00 to $105.00 and gave the company a "market outperform" rating in a research note on Thursday, October 2nd. Jefferies Financial Group restated a "hold" rating and issued a $85.00 price target on shares of Kratos Defense & Security Solutions in a report on Thursday, November 6th. BTIG Research lifted their price target on shares of Kratos Defense & Security Solutions from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Kratos Defense & Security Solutions in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $82.06.
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View Our Latest Analysis on Kratos Defense & Security Solutions
Insider Activity
In other Kratos Defense & Security Solutions news, Director Amy Zegart sold 10,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $74.17, for a total transaction of $741,700.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David M. Carter sold 4,000 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $76.30, for a total value of $305,200.00. Following the transaction, the insider owned 85,809 shares of the company's stock, valued at approximately $6,547,226.70. This trade represents a 4.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 448,866 shares of company stock worth $33,889,148 over the last quarter. Corporate insiders own 2.37% of the company's stock.
Kratos Defense & Security Solutions Price Performance
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KTOS opened at $75.96 on Friday. Kratos Defense & Security Solutions, Inc. has a twelve month low of $23.90 and a twelve month high of $112.57. The firm has a market cap of $12.83 billion, a price-to-earnings ratio of 584.35 and a beta of 1.14. The company has a current ratio of 4.30, a quick ratio of 3.68 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $82.32 and a 200 day simple moving average of $67.09.
Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The aerospace company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $347.60 million during the quarter, compared to analysts' expectations of $323.01 million. Kratos Defense & Security Solutions had a net margin of 1.56% and a return on equity of 3.14%. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. Equities research analysts expect that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current fiscal year.
Kratos Defense & Security Solutions Company Profile
(Free Report)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.
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