Glacier Peak Capital Has Decreased Kratos Defense & Security (KTOS) Stake as Share Price Rose; Progressive (PGR) Holder Comerica Bank Has Lowered Its Stake by $1.02 Million

February 15, 2018 - By Peter Erickson

Glacier Peak Capital Llc decreased its stake in Kratos Defense & Security (KTOS) by 69.18% based on its latest 2017Q3 regulatory filing with the SEC. Glacier Peak Capital Llc sold 166,329 shares as the company’s stock rose 19.21% with the market. The hedge fund held 74,100 shares of the capital goods company at the end of 2017Q3, valued at $969,000, down from 240,429 at the end of the previous reported quarter. Glacier Peak Capital Llc who had been investing in Kratos Defense & Security for a number of months, seems to be less bullish one the $1.22 billion market cap company. The stock increased 3.23% or $0.37 during the last trading session, reaching $11.84. About 1.46 million shares traded. Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) has risen 142.79% since February 15, 2017 and is uptrending. It has outperformed by 126.09% the S&P500.

Comerica Bank decreased its stake in Progressive Corp (PGR) by 10.71% based on its latest 2017Q3 regulatory filing with the SEC. Comerica Bank sold 21,270 shares as the company’s stock rose 6.56% with the market. The institutional investor held 177,240 shares of the property-casualty insurers company at the end of 2017Q3, valued at $8.62M, down from 198,510 at the end of the previous reported quarter. Comerica Bank who had been investing in Progressive Corp for a number of months, seems to be less bullish one the $32.75B market cap company. The stock increased 5.79% or $3.08 during the last trading session, reaching $56.3. About 6.30 million shares traded or 80.69% up from the average. The Progressive Corporation (NYSE:PGR) has risen 26.23% since February 15, 2017 and is uptrending. It has outperformed by 9.53% the S&P500.

Since August 17, 2017, it had 0 insider buys, and 3 selling transactions for $788,383 activity. Griffith Susan Patricia had sold 35,000 shares worth $1.70M on Thursday, August 17. Charney M Jeffrey sold 6,000 shares worth $293,400. 9,000 shares were sold by BASCH JEFFREY W, worth $434,070. 50,000 shares were sold by Sauerland John P, worth $2.43 million.

Among 19 analysts covering Progressive (NYSE:PGR), 9 have Buy rating, 2 Sell and 8 Hold. Therefore 47% are positive. Progressive had 56 analyst reports since August 6, 2015 according to SRatingsIntel. Barclays Capital maintained the stock with “Underweight” rating in Friday, August 11 report. As per Wednesday, May 10, the company rating was maintained by FBR Capital. The stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by M Partners on Thursday, January 25. The firm earned “Hold” rating on Wednesday, June 14 by Wells Fargo. On Tuesday, January 10 the stock rating was upgraded by Goldman Sachs to “Neutral”. The firm has “Buy” rating given on Tuesday, September 19 by UBS. Barclays Capital maintained The Progressive Corporation (NYSE:PGR) on Monday, October 16 with “Underweight” rating. The stock has “Strong Buy” rating by Raymond James on Thursday, July 13. The rating was maintained by Morgan Stanley on Wednesday, October 18 with “Equal-Weight”. Wells Fargo maintained The Progressive Corporation (NYSE:PGR) on Thursday, August 3 with “Hold” rating.

Investors sentiment decreased to 1.07 in 2017 Q3. Its down 0.12, from 1.19 in 2017Q2. It dived, as 43 investors sold PGR shares while 189 reduced holdings. 63 funds opened positions while 185 raised stakes. 447.86 million shares or 0.41% less from 449.71 million shares in 2017Q2 were reported. Shell Asset Mngmt reported 130,411 shares stake. Mason Street Lc owns 80,778 shares. Moreover, Barclays Public Limited Com has 0.01% invested in The Progressive Corporation (NYSE:PGR). Rafferty Asset Management Ltd Company invested in 0.22% or 198,369 shares. 1,091 were accumulated by First Personal Fin. Bnp Paribas Arbitrage Sa owns 1.21M shares. Smith Asset Mngmt Gru Limited Partnership stated it has 796,160 shares or 1.29% of all its holdings. Neuberger Berman Group Ltd Liability Corp stated it has 7.69M shares or 0.47% of all its holdings. Lombard Odier Asset Management (Europe) Limited has invested 0.02% in The Progressive Corporation (NYSE:PGR). Amer Intl Grp Inc Inc has invested 0.04% in The Progressive Corporation (NYSE:PGR). B & T Capital Dba Alpha Capital reported 23,086 shares. Oppenheimer Asset has invested 0.11% in The Progressive Corporation (NYSE:PGR). Renaissance Technologies Limited Liability Company invested 0.25% in The Progressive Corporation (NYSE:PGR). Alphaone Inv Services Ltd Limited Liability Company reported 3,190 shares. Washington Tru Bank holds 0% in The Progressive Corporation (NYSE:PGR) or 280 shares.

Comerica Bank, which manages about $13.82B US Long portfolio, upped its stake in Oclaro Inc (NASDAQ:OCLR) by 43,207 shares to 177,564 shares, valued at $1.45 million in 2017Q3, according to the filing. It also increased its holding in Gilead Sciences Inc (NASDAQ:GILD) by 225,946 shares in the quarter, for a total of 675,446 shares, and has risen its stake in Polyone Corporation (NYSE:POL).

Analysts await Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) to report earnings on February, 26. KTOS’s profit will be $4.13M for 74.00 P/E if the $0.04 EPS becomes a reality.

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By1 Peter Erickson

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