Mercury Systems, Inc. (NASDAQ:MRCY) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,400 shares of the technology company’s stock after selling 1,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Mercury Systems were worth $903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MRCY. Signaturefd LLC increased its holdings in Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock valued at $25,000 after acquiring an additional 393 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Mercury Systems by 1,126.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $31,000 after purchasing an additional 1,070 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Mercury Systems by 216.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock worth $64,000 after purchasing an additional 1,622 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Mercury Systems during the 2nd quarter worth approximately $81,000. Finally, Quest Partners LLC lifted its stake in Mercury Systems by 10,995.5% in the 2nd quarter. Quest Partners LLC now owns 4,882 shares of the technology company’s stock valued at $132,000 after buying an additional 4,838 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target for the company in a research report on Monday, August 19th. Robert W. Baird lifted their price objective on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Royal Bank of Canada upped their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. Truist Financial raised their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.50.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp purchased 13,600 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $37.25 per share, with a total value of $506,600.00. Following the completion of the transaction, the director now owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Mercury Systems news, Director Jana Partners Management, Lp purchased 13,600 shares of Mercury Systems stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $37.25 per share, with a total value of $506,600.00. Following the completion of the transaction, the director now directly owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $52,916.60. Following the completion of the sale, the executive vice president now directly owns 32,259 shares of the company’s stock, valued at $1,273,907.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,099 shares of company stock valued at $865,740. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Trading Up 2.6 %

Shares of MRCY stock opened at $33.18 on Monday. The firm’s 50-day simple moving average is $36.04 and its 200-day simple moving average is $33.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.07 and a quick ratio of 2.64. Mercury Systems, Inc. has a 1-year low of $25.31 and a 1-year high of $42.72. The firm has a market cap of $1.97 billion, a P/E ratio of -13.88 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. The company had revenue of $248.56 million for the quarter, compared to the consensus estimate of $223.80 million. As a group, equities analysts forecast that Mercury Systems, Inc. will post -0.52 EPS for the current 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.