Mercury Systems (NASDAQ:MRCY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Several other analysts have also weighed in on the company. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a report on Thursday, January 11th. SunTrust Banks restated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a report on Tuesday, January 9th. Noble Financial restated a “hold” rating on shares of Mercury Systems in a report on Thursday, October 26th. Finally, Robert W. Baird increased their price target on Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.33.
Shares of Mercury Systems (MRCY) traded down $0.71 on Friday, hitting $50.55. The stock had a trading volume of 372,634 shares, compared to its average volume of 199,601. The stock has a market cap of $2,438.58, a PE ratio of 54.35, a price-to-earnings-growth ratio of 4.37 and a beta of 0.23. Mercury Systems has a twelve month low of $30.80 and a twelve month high of $55.00.
In other Mercury Systems news, CEO Mark Aslett sold 4,800 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $49.92, for a total value of $239,616.00. Following the sale, the chief executive officer now owns 509,782 shares in the company, valued at $25,448,317.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vincent Vitto sold 8,500 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $52.04, for a total value of $442,340.00. Following the completion of the sale, the director now owns 79,539 shares in the company, valued at approximately $4,139,209.56. The disclosure for this sale can be found here. Insiders have sold a total of 65,800 shares of company stock worth $3,351,345 in the last 90 days. 3.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new stake in Mercury Systems in the fourth quarter worth $229,000. Schwab Charles Investment Management Inc. grew its position in shares of Mercury Systems by 3.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 228,438 shares of the technology company’s stock worth $11,731,000 after buying an additional 6,917 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Mercury Systems by 6.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the technology company’s stock worth $1,068,000 after buying an additional 1,300 shares in the last quarter. Atlantic Trust Group LLC bought a new position in shares of Mercury Systems during the 3rd quarter worth $1,258,000. Finally, Sterling Capital Management LLC grew its position in shares of Mercury Systems by 16.0% during the 3rd quarter. Sterling Capital Management LLC now owns 50,556 shares of the technology company’s stock worth $2,623,000 after buying an additional 6,979 shares in the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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