Segall Bryant & Hamill LLC Sells 245,199 Shares of Mercury Systems Inc (NASDAQ:MRCY)

Segall Bryant & Hamill LLC cut its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 19.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,025,622 shares of the technology company's stock after selling 245,199 shares during the quarter. Mercury Systems comprises approximately 0.7% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 21st biggest position. Segall Bryant & Hamill LLC owned 1.72% of Mercury Systems worth $44,194,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems during the 4th quarter worth $33,000. GAMMA Investing LLC boosted its holdings in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp boosted its holdings in Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after acquiring an additional 451 shares during the period. Sterling Capital Management LLC boosted its holdings in Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after acquiring an additional 1,449 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Mercury Systems in the 4th quarter valued at about $204,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Price Performance

Mercury Systems stock traded up $0.11 during trading hours on Friday, hitting $52.31. The stock had a trading volume of 138,709 shares, compared to its average volume of 575,125. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.44 and a quick ratio of 2.25. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -46.86, a PEG ratio of 10.69 and a beta of 0.71. Mercury Systems Inc has a 1-year low of $31.66 and a 1-year high of $54.32. The stock's fifty day moving average is $50.15 and its two-hundred day moving average is $46.65.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) earnings per share. As a group, analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director directly owned 6,861,313 shares of the company's stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Ratner sold 1,839 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the transaction, the executive vice president owned 35,174 shares in the company, valued at $1,881,105.52. This trade represents a 4.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,883 shares of company stock valued at $4,362,791. 1.60% of the stock is owned by insiders.

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.