Victory Capital Management Inc. Sells 325,340 Shares of Mercury Systems Inc (NASDAQ:MRCY)

Victory Capital Management Inc. decreased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 15.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,734,791 shares of the technology company’s stock after selling 325,340 shares during the quarter. Victory Capital Management Inc. owned 2.91% of Mercury Systems worth $74,752,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MRCY. Millennium Management LLC raised its holdings in shares of Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after purchasing an additional 677,894 shares during the period. First Trust Advisors LP boosted its stake in shares of Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock worth $41,535,000 after acquiring an additional 333,109 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in Mercury Systems by 146.9% in the 4th quarter. Kennedy Capital Management LLC now owns 466,177 shares of the technology company’s stock valued at $19,579,000 after acquiring an additional 277,355 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 8.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company’s stock worth $97,305,000 after acquiring an additional 185,369 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Mercury Systems during the fourth quarter worth $4,258,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $52.20 on Friday. The firm’s 50-day simple moving average is $50.15 and its 200 day simple moving average is $46.65. The stock has a market cap of $3.12 billion, a P/E ratio of -46.61, a P/E/G ratio of 10.69 and a beta of 0.71. Mercury Systems Inc has a fifty-two week low of $31.66 and a fifty-two week high of $54.32. The company has a quick ratio of 2.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. Equities analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on MRCY shares. Truist Financial upped their price objective on Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Royal Bank Of Canada lifted their price target on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.29.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the sale, the director directly owned 6,861,313 shares in the company, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president owned 56,187 shares in the company, valued at $2,680,119.90. This represents a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,883 shares of company stock worth $4,362,791 over the last three months. 1.60% of the stock is owned by company insiders.

Mercury Systems 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.