Citigroup Inc. Sells 48,250 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Citigroup Inc. reduced its holdings in Mercury Systems, Inc. (NASDAQ:MRCYGet Rating) by 34.2% during the first quarter, Holdings Channel.com reports. The fund owned 93,000 shares of the technology company’s stock after selling 48,250 shares during the quarter. Citigroup Inc.’s holdings in Mercury Systems were worth $5,994,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ironwood Investment Management LLC lifted its position in Mercury Systems by 0.6% during the first quarter. Ironwood Investment Management LLC now owns 42,499 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 256 shares during the last quarter. Retirement Systems of Alabama lifted its position in Mercury Systems by 0.4% during the first quarter. Retirement Systems of Alabama now owns 74,467 shares of the technology company’s stock valued at $4,799,000 after purchasing an additional 291 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Mercury Systems by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the technology company’s stock valued at $921,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Mercury Systems by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 20,629 shares of the technology company’s stock valued at $1,330,000 after purchasing an additional 330 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Mercury Systems by 0.3% during the first quarter. Principal Financial Group Inc. now owns 192,897 shares of the technology company’s stock valued at $12,432,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY opened at $46.79 on Thursday. The firm’s 50-day moving average price is $55.34 and its 200-day moving average price is $58.98. Mercury Systems, Inc. has a 52-week low of $44.04 and a 52-week high of $72.28. The company has a market cap of $2.70 billion, a PE ratio of 246.28, a PEG ratio of 22.29 and a beta of 0.85. The company has a quick ratio of 2.81, a current ratio of 4.20 and a debt-to-equity ratio of 0.29.

Insider Activity at Mercury Systems

In other Mercury Systems news, CAO Michelle M. Mccarthy sold 830 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $50.03, for a total value of $41,524.90. Following the completion of the sale, the chief accounting officer now owns 16,879 shares of the company’s stock, valued at approximately $844,456.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Mercury Systems news, EVP Brian E. Perry sold 931 shares of Mercury Systems stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $51.46, for a total value of $47,909.26. Following the completion of the sale, the executive vice president now owns 91,043 shares of the company’s stock, valued at approximately $4,685,072.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Michelle M. Mccarthy sold 830 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $50.03, for a total transaction of $41,524.90. Following the completion of the sale, the chief accounting officer now directly owns 16,879 shares of the company’s stock, valued at approximately $844,456.37. The disclosure for this sale can be found here. Insiders have sold a total of 15,156 shares of company stock worth $776,637 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the subject of several research analyst reports. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $60.00 to $71.00 in a research report on Friday, May 13th. Robert W. Baird dropped their target price on shares of Mercury Systems from $72.00 to $58.00 in a research report on Wednesday, August 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Mercury Systems from $72.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

About Mercury Systems

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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.

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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