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

Price T Rowe Associates Inc. MD cut its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,860 shares of the technology company’s stock after selling 1,664 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Mercury Systems were worth $1,591,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after purchasing an additional 1,449 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Mercury Systems by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock valued at $10,327,000 after purchasing an additional 7,512 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Mercury Systems by 16.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after buying an additional 294,747 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company’s stock worth $233,126,000 after acquiring an additional 41,324 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Mercury Systems by 35.1% during the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after purchasing an additional 77,254 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY opened at $46.01 on Friday. Mercury Systems, Inc. has a 12 month low of $26.48 and a 12 month high of $52.25. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -29.49 and a beta of 0.70. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $46.09 and a 200-day moving average price of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. During the same period in the previous year, the firm earned ($0.26) EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

MRCY has been the topic of several research analyst reports. Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and upped their target price for the stock 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 lifted their price objective for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group boosted their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

Insider Activity at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,377 shares of the company’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 $104,873.24. Following the transaction, the executive vice president now owns 62,834 shares in the company, valued at $2,772,236.08. The trade was a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Douglas Munro sold 595 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $26,251.40. Following the sale, the chief accounting officer now owns 14,572 shares in the company, valued at approximately $642,916.64. This represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,314 shares of company stock worth $234,454 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Company 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.