Treasurer of the State of North Carolina decreased its stake in Mercury Systems, Inc. (NASDAQ:MRCY – Get Rating) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,357 shares of the technology company’s stock after selling 3,020 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Mercury Systems were worth $956,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Starboard Value LP bought a new position in shares of Mercury Systems during the 1st quarter valued at $230,973,000. Invesco Ltd. raised its holdings in Mercury Systems by 218.0% in the 1st quarter. Invesco Ltd. now owns 720,322 shares of the technology company’s stock worth $46,425,000 after acquiring an additional 493,801 shares during the period. State Street Corp raised its holdings in Mercury Systems by 16.1% in the 3rd quarter. State Street Corp now owns 2,765,679 shares of the technology company’s stock worth $112,287,000 after acquiring an additional 382,507 shares during the period. Emerald Advisers LLC bought a new position in Mercury Systems in the 4th quarter worth $14,405,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in Mercury Systems in the 4th quarter worth $9,751,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Mercury Systems from $54.00 to $45.00 in a report on Wednesday, May 3rd. Jefferies Financial Group boosted their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, February 6th. StockNews.com began coverage on shares of Mercury Systems in a report on Thursday. They set a “hold” rating on the stock. Truist Financial dropped their price objective on shares of Mercury Systems from $69.00 to $58.00 in a report on Wednesday, May 3rd. Finally, Raymond James boosted their price objective on shares of Mercury Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, February 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.00.
Insider Activity
In other news, CEO Mark Aslett sold 4,765 shares of Mercury Systems stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $52.98, for a total transaction of $252,449.70. Following the sale, the chief executive officer now directly owns 513,638 shares in the company, valued at approximately $27,212,541.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 5,401 shares of company stock worth $286,145. Corporate insiders own 2.10% of the company’s stock.
Mercury Systems Price Performance
Shares of Mercury Systems stock opened at $41.40 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.70 and a current ratio of 4.26. The firm’s 50-day simple moving average is $46.82 and its 200-day simple moving average is $48.65. Mercury Systems, Inc. has a twelve month low of $34.13 and a twelve month high of $65.42. The firm has a market cap of $2.41 billion, a P/E ratio of -690.00, a price-to-earnings-growth ratio of 33.46 and a beta of 1.00.
About Mercury Systems
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Mercury Systems, Inc is a global commercial technology company, which serves the aerospace and defense industry. It offers products through the following categories: Components, Modules and Sub-Assemblies, and Integrated Subsystems. The Components category refers to technology elements performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly.
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