Texas Permanent School Fund Corp Cuts Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Texas Permanent School Fund Corp decreased its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 14.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,102 shares of the technology company’s stock after selling 6,475 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Mercury Systems worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake 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. increased its holdings 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 worth $64,000 after acquiring an additional 1,622 shares in the last quarter. nVerses Capital LLC purchased a new stake in Mercury Systems in the 2nd quarter worth $81,000. Quest Partners LLC raised its position in Mercury Systems by 10,995.5% during the second quarter. Quest Partners LLC now owns 4,882 shares of the technology company’s stock worth $132,000 after acquiring an additional 4,838 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Mercury Systems by 26.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company’s stock valued at $167,000 after purchasing an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stephanie Georges sold 1,340 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the transaction, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $1,273,907.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William L. Ballhaus sold 6,549 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 $258,620.01. Following the completion of the transaction, the chief executive officer now directly owns 353,481 shares in the company, valued at approximately $13,958,964.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephanie Georges sold 1,340 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $52,916.60. Following the sale, the executive vice president now directly owns 32,259 shares of the company’s stock, valued at $1,273,907.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,099 shares of company stock valued at $865,740. 1.80% of the stock is owned by company insiders.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $35.90 on Friday. Mercury Systems, Inc. has a one year low of $25.31 and a one year high of $42.72. The stock has a market cap of $2.13 billion, a PE ratio of -15.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. The stock has a 50 day moving average price of $36.03 and a 200 day moving average price of $31.58.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The company had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Equities research analysts expect that Mercury Systems, Inc. will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Truist Financial boosted their target price 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. 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 note on Monday, August 19th. JPMorgan Chase & Co. raised their target price on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. StockNews.com cut Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their price objective on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average price target of $33.50.

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.