Rhumbline Advisers Decreases Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Rhumbline Advisers reduced its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 154,740 shares of the technology company's stock after selling 6,755 shares during the period. Rhumbline Advisers owned approximately 0.26% of Mercury Systems worth $6,668,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MRCY. Corient Private Wealth LLC grew its position in shares of Mercury Systems by 4.0% in the 4th quarter. Corient Private Wealth LLC now owns 6,858 shares of the technology company's stock valued at $288,000 after acquiring an additional 266 shares during the period. Ironwood Investment Management LLC raised its stake in Mercury Systems by 0.7% in the fourth quarter. Ironwood Investment Management LLC now owns 40,994 shares of the technology company's stock valued at $1,722,000 after purchasing an additional 300 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Mercury Systems by 8.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company's stock worth $288,000 after acquiring an additional 517 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Mercury Systems by 5.0% in the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock valued at $461,000 after purchasing an additional 519 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Mercury Systems by 9.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 6,641 shares of the technology company's stock worth $279,000 after acquiring an additional 555 shares in the last quarter. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Down 1.3%

NASDAQ:MRCY traded down $0.69 during trading hours on Thursday, hitting $51.57. 746,595 shares of the company traded hands, compared to its average volume of 591,885. Mercury Systems, Inc. has a one year low of $26.48 and a one year high of $54.32. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The company has a market cap of $3.08 billion, a PE ratio of -33.06 and a beta of 0.68. The firm's 50-day simple moving average is $48.13 and its 200-day simple moving average is $44.56.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The firm had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. During the same period last year, the firm posted ($0.26) EPS. The business's revenue was up 1.5% compared to the same quarter last year. Equities analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Mercury Systems

In other news, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now owns 56,187 shares of the company's stock, valued at approximately $2,680,119.90. The trade was a 6.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the sale, the director now owns 6,861,313 shares in the company, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MRCY shares. Royal Bank of Canada raised their price objective on Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Truist Financial lifted their price objective on Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $47.29.

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.