Cibc World Markets Corp Invests $204,000 in Mercury Systems, Inc. (NASDAQ:MRCY)

Cibc World Markets Corp purchased a new position in Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, Holdings Channel reports. The fund purchased 4,866 shares of the technology company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC grew its stake in Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after acquiring an additional 743,552 shares in the last quarter. Fisher Asset Management LLC bought a new position in Mercury Systems in the fourth quarter worth approximately $16,601,000. Victory Capital Management Inc. increased its holdings in Mercury Systems by 16.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after purchasing an additional 294,747 shares during the period. Barclays PLC raised its position in Mercury Systems by 471.3% during the 3rd quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock valued at $6,496,000 after purchasing an additional 144,831 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Mercury Systems in the 4th quarter worth $4,258,000. Institutional investors own 95.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Stuart Kupinsky sold 2,377 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $104,873.24. Following the transaction, the executive vice president now directly owns 62,834 shares of the company’s stock, valued at approximately $2,772,236.08. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Douglas Munro sold 595 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the transaction, the chief accounting officer now owns 14,572 shares of the company’s stock, valued at approximately $642,916.64. The trade was a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,314 shares of company stock valued at $234,454. Insiders own 1.60% of the company’s stock.

Mercury Systems Stock Down 3.9 %

Shares of MRCY stock opened at $44.72 on Thursday. The stock’s fifty day moving average price is $44.04 and its 200 day moving average price is $40.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -28.67 and a beta of 0.80.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. On average, research analysts expect that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Finally, Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $49.00 to $56.00 in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.86.

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.