Ironwood Investment Management LLC Has $2.02 Million Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Ironwood Investment Management LLC lessened its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 39,525 shares of the technology company’s stock after selling 1,066 shares during the quarter. Mercury Systems comprises about 1.3% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 19th largest position. Ironwood Investment Management LLC’s holdings in Mercury Systems were worth $2,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MRCY. Advisor Group Holdings Inc. boosted its position in Mercury Systems by 7.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,960 shares of the technology company’s stock worth $132,000 after acquiring an additional 193 shares during the period. Truist Financial Corp lifted its stake in shares of Mercury Systems by 4.2% in the fourth quarter. Truist Financial Corp now owns 6,173 shares of the technology company’s stock worth $276,000 after buying an additional 247 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Mercury Systems by 22.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,919 shares of the technology company’s stock worth $123,000 after buying an additional 346 shares during the period. American International Group Inc. lifted its position in Mercury Systems by 0.4% during the 1st quarter. American International Group Inc. now owns 96,136 shares of the technology company’s stock worth $6,196,000 after acquiring an additional 348 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its position in shares of Mercury Systems by 122.6% during the 4th quarter. Dark Forest Capital Management LP now owns 641 shares of the technology company’s stock valued at $29,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Christopher C. Cambria sold 1,508 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $36.65, for a total value of $55,268.20. Following the transaction, the executive vice president now directly owns 135,730 shares of the company’s stock, valued at approximately $4,974,504.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Christopher C. Cambria sold 1,508 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $36.65, for a total value of $55,268.20. Following the completion of the sale, the executive vice president now owns 135,730 shares of the company’s stock, valued at $4,974,504.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Ballhaus purchased 39,925 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average cost of $37.57 per share, for a total transaction of $1,499,982.25. Following the completion of the transaction, the chief executive officer now owns 291,999 shares of the company’s stock, valued at approximately $10,970,402.43. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 2,739 shares of company stock worth $100,433. 2.10% of the stock is owned by insiders.

Mercury Systems Stock Performance

NASDAQ MRCY traded down $0.87 during trading on Monday, reaching $35.44. 50,619 shares of the company’s stock were exchanged, compared to its average volume of 538,009. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.02 and a quick ratio of 2.57. The business has a 50 day moving average price of $36.74 and a 200-day moving average price of $42.10. The stock has a market capitalization of $2.06 billion, a P/E ratio of -69.49, a PEG ratio of 38.40 and a beta of 0.88. Mercury Systems, Inc. has a fifty-two week low of $28.90 and a fifty-two week high of $59.13.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 15th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). Mercury Systems had a positive return on equity of 1.56% and a negative net margin of 2.91%. The business had revenue of $253.24 million for the quarter, compared to analyst estimates of $277.27 million. Sell-side analysts forecast that Mercury Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $48.00 price target on shares of Mercury Systems in a report on Wednesday, August 16th. Royal Bank of Canada reduced their price objective on Mercury Systems from $40.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 16th. TheStreet lowered Mercury Systems from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. Robert W. Baird cut their price objective on shares of Mercury Systems from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, August 16th. Finally, StockNews.com downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.71.

About Mercury Systems

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.