Oppenheimer & Co. Inc. trimmed its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY – Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,190 shares of the technology company’s stock after selling 1,260 shares during the quarter. Oppenheimer & Co. Inc. owned 0.06% of Mercury Systems worth $1,430,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after buying an additional 395 shares during the last quarter. Fifth Third Bancorp increased its position in Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after buying an additional 451 shares during the last quarter. Sterling Capital Management LLC increased its position 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 buying an additional 1,449 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Mercury Systems in the fourth quarter worth $204,000. 95.99% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $53.48, for a total transaction of $98,349.72. Following the completion of the transaction, the executive vice president now directly owns 35,174 shares in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the transaction, the director now owns 6,861,313 shares of the company’s stock, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,883 shares of company stock worth $4,362,791 over the last ninety days. 1.60% of the stock is owned by corporate insiders.
Mercury Systems Price Performance
Mercury Systems (NASDAQ:MRCY – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $211.36 million during the quarter, compared to analysts’ expectations of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.26) earnings per share. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MRCY. The Goldman Sachs Group raised their target price on Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. raised their target price on Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Truist Financial raised their target price on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada raised their target price on Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.57.
Check Out Our Latest Stock Analysis on MRCY
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.
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