Citigroup Inc. Acquires 14,620 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Citigroup Inc. grew its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 15.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,383 shares of the technology company’s stock after acquiring an additional 14,620 shares during the period. Citigroup Inc.’s holdings in Mercury Systems were worth $4,084,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. William Blair Investment Management LLC grew its position in Mercury Systems by 0.6% in the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after acquiring an additional 36,923 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mercury Systems by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,027,158 shares of the technology company’s stock worth $54,713,000 after buying an additional 20,604 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in shares of Mercury Systems by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock worth $49,183,000 after buying an additional 20,300 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mercury Systems by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 658,833 shares of the technology company’s stock worth $24,377,000 after buying an additional 9,582 shares during the period. Finally, Clearline Capital LP boosted its holdings in shares of Mercury Systems by 18.4% during the 2nd quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock worth $14,213,000 after buying an additional 81,826 shares during the period. 95.99% of the stock is owned by institutional investors.

Mercury Systems Trading Down 2.2 %

MRCY stock opened at $39.14 on Wednesday. The business has a fifty day moving average price of $37.56 and a 200 day moving average price of $34.79. Mercury Systems, Inc. has a fifty-two week low of $25.31 and a fifty-two week high of $44.63. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -19.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.59.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MRCY shares. Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Royal Bank of Canada lifted their target price on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. 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 report on Wednesday, August 14th. Finally, Jefferies Financial Group upgraded shares of Mercury Systems from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $30.00 to $42.00 in a research note on Monday, November 11th. Two 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.29.

Insider Activity

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the sale, the chief operating officer now directly owns 113,488 shares in the company, valued at $4,403,334.40. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

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.