Mercury Systems Inc $MRCY Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 88.4% during the third quarter, Holdings Channel reports. The fund owned 1,861 shares of the technology company’s stock after selling 14,129 shares during the period. Sterling Capital Management LLC’s holdings in Mercury Systems were worth $154,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Mercury Systems in the 2nd quarter worth approximately $43,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Mercury Systems in the 2nd quarter valued at $52,000. IFP Advisors Inc boosted its stake in shares of Mercury Systems by 250.8% in the 2nd quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock valued at $57,000 after purchasing an additional 331 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after purchasing an additional 228 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Mercury Systems during the 2nd quarter valued at $82,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Price Performance

NASDAQ MRCY opened at $77.54 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The stock has a market capitalization of $4.72 billion, a PE ratio of -155.08 and a beta of 0.97. Mercury Systems Inc has a 1 year low of $65.04 and a 1 year high of $128.45. The business’s 50-day moving average is $81.97 and its 200 day moving average is $91.83.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. Sell-side analysts forecast that Mercury Systems Inc will post 0.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Royal Bank Of Canada cut their price target on shares of Mercury Systems from $120.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Canaccord Genuity Group raised their price objective on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.18.

Insider Transactions at Mercury Systems

In other news, EVP Stuart Kupinsky sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $76.00, for a total transaction of $76,000.00. Following the transaction, the executive vice president directly owned 59,971 shares of the company’s stock, valued at approximately $4,557,796. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Ballhaus sold 49,090 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total value of $4,373,919.00. Following the transaction, the chief executive officer directly owned 361,822 shares in the company, valued at $32,238,340.20. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 452,186 shares of company stock worth $41,933,170. 0.99% of the stock is currently owned by insiders.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.