Mercury Systems, Inc. (NASDAQ:MRCY) Position Trimmed by EULAV Asset Management

EULAV Asset Management lowered its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 34.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,200 shares of the technology company’s stock after selling 17,100 shares during the period. EULAV Asset Management owned approximately 0.06% of Mercury Systems worth $1,148,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Mercury Systems by 1.8% during the first quarter. BlackRock Inc. now owns 5,778,095 shares of the technology company’s stock valued at $295,376,000 after purchasing an additional 101,409 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Mercury Systems by 2.7% in the first quarter. William Blair Investment Management LLC now owns 5,348,358 shares of the technology company’s stock worth $273,408,000 after buying an additional 142,390 shares during the period. Starboard Value LP purchased a new position in shares of Mercury Systems in the first quarter worth approximately $230,973,000. State Street Corp raised its holdings in shares of Mercury Systems by 16.1% during the third quarter. State Street Corp now owns 2,765,679 shares of the technology company’s stock valued at $112,287,000 after acquiring an additional 382,507 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Mercury Systems by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,188,057 shares of the technology company’s stock valued at $141,020,000 after acquiring an additional 159,068 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Trading Up 3.8 %

Shares of NASDAQ MRCY opened at $34.70 on Wednesday. The business has a 50 day simple moving average of $36.75 and a 200 day simple moving average of $37.68. Mercury Systems, Inc. has a 52 week low of $28.90 and a 52 week high of $59.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.65 and a quick ratio of 2.88.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 15th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). Mercury Systems had a negative net margin of 5.47% and a negative return on equity of 0.17%. The business had revenue of $253.24 million during the quarter, compared to analyst estimates of $277.27 million. As a group, sell-side analysts forecast that Mercury Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other Mercury Systems news, EVP Allen Couture sold 2,558 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $38.59, for a total value of $98,713.22. Following the completion of the sale, the executive vice president now owns 65,222 shares of the company’s stock, valued at $2,516,916.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Allen Couture sold 2,558 shares of Mercury Systems stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $38.59, for a total value of $98,713.22. Following the transaction, the executive vice president now owns 65,222 shares of the company’s stock, valued at $2,516,916.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jana Partners Llc acquired 50,000 shares of Mercury Systems stock in a transaction dated Friday, August 18th. The stock was purchased at an average price of $38.05 per share, with a total value of $1,902,500.00. Following the completion of the purchase, the director now directly owns 4,711,386 shares of the company’s stock, valued at approximately $179,268,237.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 6,712 shares of company stock worth $254,866. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Robert W. Baird lowered their price objective on shares of Mercury Systems from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 16th. Truist Financial reissued a “buy” rating and issued a $48.00 price objective on shares of Mercury Systems in a research note on Tuesday, September 19th. JPMorgan Chase & Co. lowered their target price on Mercury Systems from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 16th. Royal Bank of Canada dropped their target price on Mercury Systems from $40.00 to $35.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 16th. Finally, StockNews.com assumed coverage on shares of Mercury Systems in a report on Thursday, October 5th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $39.67.

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.