Westwood Holdings Group Inc. Has $39.09 Million Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Westwood Holdings Group Inc. reduced its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 6.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,448,303 shares of the technology company’s stock after selling 105,863 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Mercury Systems were worth $39,090,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MRCY. Sei Investments Co. grew its stake in shares of Mercury Systems by 27.0% in the 1st quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after buying an additional 46,132 shares in the last quarter. Jane Street Group LLC lifted its stake in Mercury Systems by 102.6% in the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after acquiring an additional 130,396 shares during the last quarter. Norges Bank bought a new stake in Mercury Systems in the fourth quarter worth approximately $13,294,000. Natixis bought a new stake in Mercury Systems in the first quarter worth approximately $693,000. Finally, Van ECK Associates Corp increased its stake in shares of Mercury Systems by 258.7% during the 1st quarter. Van ECK Associates Corp now owns 112,813 shares of the technology company’s stock worth $3,328,000 after purchasing an additional 81,364 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $35.90 on Friday. The firm’s 50-day moving average is $36.03 and its 200-day moving average is $31.60. The company has a market cap of $2.13 billion, a price-to-earnings 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. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly 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 firm had revenue of $248.56 million for the quarter, compared to analyst estimates of $223.80 million. Equities research analysts anticipate that Mercury Systems, Inc. will post -0.52 earnings per share for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp purchased 13,600 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the purchase, the director now directly owns 6,944,633 shares in the company, valued at $258,687,579.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the sale, the director now owns 11,339 shares of the company’s stock, valued at $431,675.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp bought 13,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average price of $37.25 per share, with a total value of $506,600.00. Following the purchase, the director now directly owns 6,944,633 shares of the company’s stock, valued at approximately $258,687,579.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MRCY shares. Royal Bank of Canada upped their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. 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 report on Wednesday, August 14th. 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 research report on Wednesday, August 14th. Finally, Alembic Global Advisors raised 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. Four 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.com, the company presently has a consensus rating of “Hold” and an average target price of $33.50.

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.