Price T Rowe Associates Inc. MD Sells 1,664 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Price T Rowe Associates Inc. MD trimmed its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,860 shares of the technology company’s stock after selling 1,664 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Mercury Systems worth $1,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after buying an additional 1,449 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mercury Systems during the 4th quarter worth approximately $75,000. KBC Group NV boosted its stake in shares of Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after purchasing an additional 825 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Mercury Systems by 52.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company’s stock valued at $189,000 after buying an additional 1,549 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Mercury Systems in the 4th quarter worth approximately $204,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Trading Down 4.0 %

Shares of Mercury Systems stock opened at $46.01 on Friday. The business has a fifty day simple moving average of $46.09 and a two-hundred day simple moving average of $42.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -29.49 and a beta of 0.70. Mercury Systems, Inc. has a 1 year low of $26.48 and a 1 year high of $52.25.

Mercury Systems (NASDAQ:MRCY) last released its quarterly 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. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The business had revenue of $211.36 million during the quarter, compared to analysts’ expectations of $204.25 million. During the same period last year, the firm posted ($0.26) EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MRCY shares. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial raised Mercury Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $49.00 to $56.00 in a research note on Thursday, March 13th. Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Royal Bank of Canada lifted their target price on Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and an average target price of $46.00.

Insider Activity at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 2,342 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of the sale, the chief operating officer now directly owns 95,928 shares in the company, valued at $4,232,343.36. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Douglas Munro sold 595 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the sale, the chief accounting officer now directly owns 14,572 shares in the company, valued at $642,916.64. This trade represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,314 shares of company stock worth $234,454. Company insiders own 1.60% of the company’s stock.

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.