Fred Alger Management LLC Sells 135,511 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Fred Alger Management LLC trimmed its stake in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 932,655 shares of the aerospace company's stock after selling 135,511 shares during the quarter. Fred Alger Management LLC owned 0.62% of Kratos Defense & Security Solutions worth $24,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Investment Advisors Inc. boosted its holdings in shares of Kratos Defense & Security Solutions by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 15,479 shares of the aerospace company's stock worth $408,000 after acquiring an additional 490 shares in the last quarter. MRP Capital Investments LLC lifted its holdings in Kratos Defense & Security Solutions by 28.6% during the 4th quarter. MRP Capital Investments LLC now owns 2,250 shares of the aerospace company's stock worth $59,000 after buying an additional 500 shares in the last quarter. Arizona State Retirement System lifted its holdings in Kratos Defense & Security Solutions by 1.4% during the 4th quarter. Arizona State Retirement System now owns 43,807 shares of the aerospace company's stock worth $1,156,000 after buying an additional 586 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Kratos Defense & Security Solutions by 90.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,284 shares of the aerospace company's stock worth $34,000 after buying an additional 610 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in Kratos Defense & Security Solutions by 1.9% during the 4th quarter. ORG Partners LLC now owns 32,975 shares of the aerospace company's stock worth $870,000 after buying an additional 621 shares in the last quarter. 75.92% of the stock is owned by institutional investors and hedge funds.

Kratos Defense & Security Solutions Trading Down 1.8%

Shares of NASDAQ:KTOS traded down $0.61 during midday trading on Friday, hitting $33.61. The company had a trading volume of 2,091,585 shares, compared to its average volume of 1,649,434. Kratos Defense & Security Solutions, Inc. has a 12 month low of $17.91 and a 12 month high of $36.85. 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 cap of $5.16 billion, a price-to-earnings ratio of 336.13 and a beta of 1.03. The firm has a fifty day simple moving average of $31.77 and a 200 day simple moving average of $29.33.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $302.60 million for the quarter, compared to analyst estimates of $292.25 million. Kratos Defense & Security Solutions had a return on equity of 3.68% and a net margin of 1.31%. The firm's revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. On average, analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on KTOS shares. StockNews.com downgraded Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a report on Saturday. Robert W. Baird upped their price objective on Kratos Defense & Security Solutions from $35.00 to $40.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. Royal Bank of Canada upped their price objective on Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on Kratos Defense & Security Solutions from $27.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, JMP Securities reaffirmed an "outperform" rating on shares of Kratos Defense & Security Solutions in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Kratos Defense & Security Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.75.

Insiders Place Their Bets

In other Kratos Defense & Security Solutions news, insider Steven S. Fendley sold 7,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $24.59, for a total value of $172,130.00. Following the sale, the insider now owns 370,660 shares in the company, valued at approximately $9,114,529.40. The trade was a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas E. Iv Mills sold 8,637 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.14, for a total transaction of $234,408.18. Following the transaction, the insider now directly owns 12,215 shares of the company's stock, valued at $331,515.10. This represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,168 shares of company stock worth $2,537,940. Company insiders own 2.37% of the company's stock.

About Kratos Defense & Security Solutions

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.