California Public Employees Retirement System Has $6.76 Million Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

California Public Employees Retirement System cut its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCYGet Rating) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,073 shares of the technology company’s stock after selling 11,825 shares during the period. California Public Employees Retirement System’s holdings in Mercury Systems were worth $6,759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRCY. Starboard Value LP bought a new position in Mercury Systems during the first quarter worth about $230,973,000. William Blair Investment Management LLC lifted its holdings in Mercury Systems by 38.9% during the first quarter. William Blair Investment Management LLC now owns 4,606,998 shares of the technology company’s stock worth $296,921,000 after acquiring an additional 1,289,176 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Mercury Systems by 8,120.9% during the second quarter. Victory Capital Management Inc. now owns 1,059,178 shares of the technology company’s stock worth $68,137,000 after acquiring an additional 1,046,294 shares in the last quarter. Invesco Ltd. lifted its holdings in Mercury Systems by 218.0% during the first quarter. Invesco Ltd. now owns 720,322 shares of the technology company’s stock worth $46,425,000 after acquiring an additional 493,801 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Mercury Systems by 73.8% during the first quarter. Bank of Nova Scotia now owns 763,165 shares of the technology company’s stock worth $49,186,000 after acquiring an additional 324,000 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MRCY shares. Royal Bank of Canada reduced their target price on Mercury Systems from $72.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, August 3rd. StockNews.com began coverage on Mercury Systems in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James began coverage on Mercury Systems in a report on Thursday, October 27th. They issued an “outperform” rating and a $55.00 price target on the stock. The Goldman Sachs Group cut their price target on Mercury Systems from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, October 13th. Finally, Robert W. Baird cut their price target on Mercury Systems from $72.00 to $58.00 in a report on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.13.

Mercury Systems Stock Performance

MRCY opened at $49.01 on Thursday. Mercury Systems, Inc. has a 52-week low of $40.48 and a 52-week high of $72.28. The firm has a market capitalization of $2.84 billion, a PE ratio of 816.83, a PEG ratio of 23.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.25 and a current ratio of 4.83. The business’s 50-day simple moving average is $46.47 and its 200 day simple moving average is $52.94.

Insider Buying and Selling

In related news, EVP James Mitch Stevison sold 1,691 shares of the company’s stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $42.89, for a total transaction of $72,526.99. Following the sale, the executive vice president now owns 59,501 shares in the company, valued at $2,551,997.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James Mitch Stevison sold 1,691 shares of the company’s stock in a transaction dated Saturday, October 15th. The stock was sold at an average price of $42.89, for a total transaction of $72,526.99. Following the sale, the executive vice president now owns 59,501 shares in the company, valued at $2,551,997.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Huber sold 2,584 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $46.45, for a total value of $120,026.80. Following the sale, the executive vice president now owns 67,455 shares in the company, valued at approximately $3,133,284.75. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Mercury Systems Company Profile

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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.

See Also

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

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