Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) Shares Sold by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has reduced its stake in Kratos Defense & Security Solutions by 16.3%, now owning about 0.09% of the company, valued at approximately $4.25 million.
• During the first quarter, multiple institutional investors increased their holdings in Kratos, with Invesco Ltd. growing its stake by 75.2%, now owning approximately 2.4 million shares.
• Kratos reported a net revenue of $351.50 million for the latest quarter, exceeding analysts' expectations, leading to a quarterly earnings per share (EPS) of $0.11, beating estimates by $0.02.

Informed Momentum Co LLC lowered its position in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,087 shares of the aerospace company's stock after selling 27,880 shares during the quarter. Informed Momentum Co LLC owned approximately 0.09% of Kratos Defense & Security Solutions worth $4,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in Kratos Defense & Security Solutions in the first quarter valued at approximately $29,000. Aspect Partners LLC increased its holdings in shares of Kratos Defense & Security Solutions by 1,900.0% in the first quarter. Aspect Partners LLC now owns 1,000 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 950 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Kratos Defense & Security Solutions in the first quarter valued at $30,000. Larson Financial Group LLC acquired a new position in shares of Kratos Defense & Security Solutions in the first quarter valued at about $30,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Kratos Defense & Security Solutions by 202.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,046 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 75.92% of the company's stock.

Kratos Defense & Security Solutions Price Performance

NASDAQ KTOS traded down $0.39 during trading hours on Wednesday, reaching $68.75. The company's stock had a trading volume of 5,173,230 shares, compared to its average volume of 4,901,829. The company has a quick ratio of 3.88, a current ratio of 4.43 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average price is $50.52 and its 200-day moving average price is $38.35. Kratos Defense & Security Solutions, Inc. has a 1 year low of $19.69 and a 1 year high of $71.11. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 687.57 and a beta of 1.04.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The aerospace company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Kratos Defense & Security Solutions had a return on equity of 3.10% and a net margin of 1.20%. The business had revenue of $351.50 million during the quarter, compared to analyst estimates of $305.67 million. During the same period last year, the company earned $0.14 EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on KTOS. Truist Financial upped their price objective on shares of Kratos Defense & Security Solutions from $38.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upped their price objective on Kratos Defense & Security Solutions from $44.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 30th. The Goldman Sachs Group raised shares of Kratos Defense & Security Solutions from a "neutral" rating to a "buy" rating and set a $52.00 target price for the company in a research report on Monday, June 30th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Kratos Defense & Security Solutions in a research report on Friday, July 18th. Finally, Benchmark increased their target price on Kratos Defense & Security Solutions from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.92.

Insider Transactions at Kratos Defense & Security Solutions

In other news, Director Bobbi Doorenbos sold 5,000 shares of Kratos Defense & Security Solutions stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $175,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Phillip D. Carrai sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction on Monday, June 16th. The shares were sold at an average price of $42.16, for a total value of $252,960.00. Following the completion of the transaction, the insider owned 276,085 shares in the company, valued at $11,639,743.60. This represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,786 shares of company stock valued at $4,102,682. Company insiders own 2.37% of the company's stock.

Kratos Defense & Security Solutions Profile

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.