Driehaus Capital Management LLC Sells 112,292 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

Driehaus Capital Management LLC cut its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 615,569 shares of the aerospace company's stock after selling 112,292 shares during the quarter. Driehaus Capital Management LLC owned about 0.41% of Kratos Defense & Security Solutions worth $16,239,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in KTOS. Jones Financial Companies Lllp raised its stake in shares of Kratos Defense & Security Solutions by 90.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,284 shares of the aerospace company's stock worth $34,000 after purchasing an additional 610 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of Kratos Defense & Security Solutions by 86.6% during the 4th quarter. Hemington Wealth Management now owns 1,360 shares of the aerospace company's stock worth $35,000 after acquiring an additional 631 shares in the last quarter. Capital Advisors Ltd. LLC acquired a new position in shares of Kratos Defense & Security Solutions during the 4th quarter worth $53,000. SBI Securities Co. Ltd. acquired a new stake in Kratos Defense & Security Solutions in the 4th quarter valued at about $55,000. Finally, MRP Capital Investments LLC grew its position in shares of Kratos Defense & Security Solutions by 28.6% in the fourth quarter. MRP Capital Investments LLC now owns 2,250 shares of the aerospace company's stock valued at $59,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 75.92% of the company's stock.

Insider Activity

In other news, CFO Deanna H. Lund sold 6,000 shares of Kratos Defense & Security Solutions stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $29.28, for a total transaction of $175,680.00. Following the completion of the transaction, the chief financial officer now directly owns 331,271 shares in the company, valued at $9,699,614.88. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Demarco acquired 7,455 shares of the stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $33.59 per share, with a total value of $250,413.45. Following the completion of the purchase, the chief executive officer now owns 1,396,237 shares of the company's stock, valued at approximately $46,899,600.83. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 87,168 shares of company stock valued at $2,537,940. 2.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Kratos Defense & Security Solutions from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Truist Financial lifted their target price on shares of Kratos Defense & Security Solutions from $32.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, April 17th. StockNews.com downgraded shares of Kratos Defense & Security Solutions from a "hold" rating to a "sell" rating in a research report on Saturday. JMP Securities reiterated an "outperform" rating on shares of Kratos Defense & Security Solutions in a research note on Tuesday, February 4th. Finally, Benchmark upped their price target on shares of Kratos Defense & Security Solutions from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.75.

Kratos Defense & Security Solutions Price Performance

NASDAQ:KTOS traded up $0.22 during trading hours on Wednesday, reaching $34.00. The company had a trading volume of 702,033 shares, compared to its average volume of 1,651,413. The company has a quick ratio of 2.61, a current ratio of 3.22 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $32.03 and a two-hundred day moving average of $29.43. Kratos Defense & Security Solutions, Inc. has a one year low of $17.91 and a one year high of $36.85. The firm has a market capitalization of $5.22 billion, a PE ratio of 340.03 and a beta of 1.03.

Kratos Defense & Security Solutions (NASDAQ:KTOS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Kratos Defense & Security Solutions had a net margin of 1.31% and a return on equity of 3.68%. The company had revenue of $302.60 million during the quarter, compared to analysts' expectations of $292.25 million. During the same quarter in the previous year, the company posted $0.11 EPS. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.31 earnings per share for the current year.

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.