Verition Fund Management LLC Acquires Shares of 11,449 Mercury Systems, Inc. (NASDAQ:MRCY)

Verition Fund Management LLC acquired a new stake in Mercury Systems, Inc. (NASDAQ:MRCY) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 11,449 shares of the technology company’s stock, valued at approximately $424,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRCY. Signaturefd LLC increased its position in Mercury Systems by 144.0% in 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% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock worth $31,000 after buying an additional 1,070 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position 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 buying an additional 1,622 shares during the period. Covestor Ltd grew its position in shares of Mercury Systems by 41.2% during the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after buying an additional 620 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Mercury Systems during the 2nd quarter worth approximately $81,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Trading Down 1.3 %

Shares of Mercury Systems stock opened at $38.68 on Friday. The firm has a 50-day moving average of $37.77 and a 200-day moving average of $35.08. The stock has a market cap of $2.31 billion, a PE ratio of -18.87 and a beta of 0.78. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $44.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10.

Wall Street Analyst Weigh In

MRCY has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Monday, August 19th. Jefferies Financial Group upgraded shares of Mercury Systems from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $30.00 to $42.00 in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Mercury Systems 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 company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $38.80, for a total transaction of $59,247.60. Following the completion of the sale, the chief operating officer now owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

About Mercury Systems

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.