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

Arizona State Retirement System cut its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,127 shares of the technology company’s stock after selling 535 shares during the quarter. Arizona State Retirement System’s holdings in Mercury Systems were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in 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 worth $31,000 after buying an additional 1,070 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in Mercury Systems by 216.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock valued at $64,000 after purchasing an additional 1,622 shares during the last quarter. nVerses Capital LLC acquired a new position in Mercury Systems during the 2nd quarter valued at about $81,000. Lazard Asset Management LLC boosted its stake in Mercury Systems by 26.6% during the 1st quarter. Lazard Asset Management LLC now owns 5,826 shares of the technology company’s stock valued at $171,000 after purchasing an additional 1,223 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Mercury Systems by 26.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company’s stock worth $167,000 after purchasing an additional 1,223 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $36.85 on Wednesday. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $35.72 and its 200 day moving average price is $31.48. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $42.72. The firm has a market cap of $2.19 billion, a P/E ratio of -15.68 and a beta of 0.69.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $223.80 million. As a group, sell-side analysts predict that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the subject of several analyst reports. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, August 19th. StockNews.com upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird raised their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Truist Financial upped their price objective on shares of Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. Three investment 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 presently has an average rating of “Hold” and an average price target of $33.50.

Insider Buying and Selling at Mercury Systems

In related news, Director Debora A. Plunkett sold 1,843 shares of Mercury Systems stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now directly owns 11,339 shares in the company, valued at approximately $431,675.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the transaction, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 1,346 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the transaction, the chief operating officer now directly owns 130,408 shares in the company, valued at approximately $5,149,811.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,030 shares of company stock valued at $863,145. Corporate insiders own 1.80% of the company’s stock.

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.