Cinctive Capital Management LP bought a new stake in Mercury Systems Inc (NASDAQ:MRCY – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 147,444 shares of the technology company’s stock, valued at approximately $10,765,000. Cinctive Capital Management LP owned approximately 0.25% of Mercury Systems at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in MRCY. Freestone Grove Partners LP acquired a new stake in Mercury Systems in the fourth quarter valued at $628,000. Guggenheim Capital LLC acquired a new stake in Mercury Systems in the fourth quarter valued at $606,000. Freshford Capital Management LLC acquired a new stake in Mercury Systems in the fourth quarter valued at $13,319,000. AQR Capital Management LLC lifted its stake in Mercury Systems by 21.7% in the fourth quarter. AQR Capital Management LLC now owns 41,776 shares of the technology company’s stock valued at $3,050,000 after acquiring an additional 7,447 shares during the last quarter. Finally, Defiance ETFs LLC acquired a new stake in Mercury Systems in the fourth quarter valued at $968,000. Institutional investors own 95.99% of the company’s stock.
Mercury Systems Stock Performance
NASDAQ MRCY opened at $115.50 on Thursday. The firm has a 50-day moving average of $94.69 and a 200-day moving average of $86.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The stock has a market cap of $6.93 billion, a PE ratio of -481.25 and a beta of 0.94. Mercury Systems Inc has a 52-week low of $49.03 and a 52-week high of $122.17.
Analyst Ratings Changes
A number of brokerages have commented on MRCY. The Goldman Sachs Group increased their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Monday, June 1st. Finally, Canaccord Genuity Group increased their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.00.
Read Our Latest Stock Analysis on MRCY
Insider Activity at Mercury Systems
In other news, EVP Steven Ratner sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the sale, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by corporate insiders.
Mercury Systems Profile
Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.
Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.
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