Mercury Systems Inc (NASDAQ:MRCY) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has reduced its stake in Mercury Systems Inc by 1.9%, now holding 257,559 shares valued at approximately $11.1 million.
• The company's stock has received mixed analyst ratings, with a consensus of "Hold" and a price target averaging $50.29.
• Insiders have recently sold a total of 93,883 shares of Mercury Systems, indicating potential shifts in management sentiment.

Royce & Associates LP trimmed its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 257,559 shares of the technology company's stock after selling 5,100 shares during the period. Royce & Associates LP owned 0.43% of Mercury Systems worth $11,098,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Mercury Systems by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after purchasing an additional 41,324 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Mercury Systems by 8.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock worth $97,305,000 after acquiring an additional 185,369 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Mercury Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after acquiring an additional 52,725 shares in the last quarter. Millennium Management LLC lifted its position in Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after acquiring an additional 677,894 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after acquiring an additional 333,109 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 1,839 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the business's 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 completion of the sale, the director owned 6,861,313 shares of the company's stock, valued at $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,883 shares of company stock valued at $4,362,791 over the last quarter. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MRCY shares. Royal Bank Of Canada boosted their price target on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. The Goldman Sachs Group lifted their price objective on Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a report on Monday, May 12th. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, Truist Financial lifted their price objective on Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Mercury Systems presently has an average rating of "Hold" and a consensus target price of $50.29.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded up $0.52 during trading on Friday, reaching $52.98. The stock had a trading volume of 319,512 shares, compared to its average volume of 722,485. Mercury Systems Inc has a one year low of $31.66 and a one year high of $54.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. The stock has a market cap of $3.17 billion, a PE ratio of -47.30, a P/E/G ratio of 2.48 and a beta of 0.71. The firm's 50 day moving average price is $50.90 and its two-hundred day moving average price is $47.08.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The business had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. During the same period in the previous year, the business earned ($0.26) EPS. The business's quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Mercury Systems 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.