Mercury Systems, Inc. (NASDAQ:MRCY) Holdings Decreased by State of Wyoming

State of Wyoming reduced its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 17.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,946 shares of the technology company’s stock after selling 3,081 shares during the period. State of Wyoming’s holdings in Mercury Systems were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mercury Systems during the fourth quarter valued at about $75,000. KBC Group NV raised its stake in shares of Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after purchasing an additional 825 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Mercury Systems by 52.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company’s stock valued at $189,000 after purchasing an additional 1,549 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Mercury Systems during the fourth quarter valued at about $204,000. 95.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $56.00 in a research note on Thursday, March 13th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Finally, Royal Bank of Canada boosted their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.71.

Insider Buying and Selling

In related news, EVP Stuart Kupinsky sold 2,377 shares of Mercury Systems stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $104,873.24. Following the transaction, the executive vice president now owns 62,834 shares of the company’s stock, valued at approximately $2,772,236.08. This trade represents a 3.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $47.70, for a total value of $185,648.40. Following the completion of the transaction, the executive vice president now directly owns 56,187 shares in the company, valued at $2,680,119.90. This represents a 6.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,358 shares of company stock valued at $4,498,895. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $46.14 on Monday. The company’s 50-day moving average price is $46.41 and its two-hundred day moving average price is $43.38. The stock has a market cap of $2.76 billion, a PE ratio of -29.58 and a beta of 0.70. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $211.36 million for the quarter, compared to analysts’ expectations of $204.25 million. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. Mercury Systems’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) EPS. As a group, sell-side analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.