Cim Investment Management Inc. Buys 7,943 Shares of Mercury Systems Inc $MRCY

Cim Investment Management Inc. boosted its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 100.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,827 shares of the technology company’s stock after buying an additional 7,943 shares during the quarter. Cim Investment Management Inc.’s holdings in Mercury Systems were worth $852,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MRCY. Castleark Management LLC acquired a new position in Mercury Systems in the second quarter valued at $4,998,000. Public Sector Pension Investment Board grew its stake in Mercury Systems by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 173,201 shares of the technology company’s stock worth $9,329,000 after purchasing an additional 12,374 shares during the period. Evergreen Capital Management LLC acquired a new position in Mercury Systems in the second quarter valued at approximately $212,000. Tower Research Capital LLC TRC boosted its holdings in shares of Mercury Systems by 516.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,494 shares of the technology company’s stock worth $350,000 after buying an additional 5,441 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Mercury Systems by 16.1% during the 2nd quarter. Corient Private Wealth LLC now owns 7,345 shares of the technology company’s stock valued at $396,000 after acquiring an additional 1,020 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling

In other news, CAO Douglas Munro sold 1,329 shares of Mercury Systems stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total transaction of $97,575.18. Following the sale, the chief accounting officer directly owned 14,678 shares in the company, valued at $1,077,658.76. The trade was a 8.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the transaction, the director owned 4,966,675 shares of the company’s stock, valued at approximately $374,735,628.75. The trade was a 16.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,003,096 shares of company stock worth $75,678,276. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Royal Bank Of Canada set a $95.00 target price on Mercury Systems and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price objective on shares of Mercury Systems in a research note on Wednesday, November 5th. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems has an average rating of “Moderate Buy” and a consensus target price of $81.00.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $74.49 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.48 billion, a PE ratio of -130.68, a price-to-earnings-growth ratio of 3.30 and a beta of 0.84. The stock’s fifty day simple moving average is $74.18 and its two-hundred day simple moving average is $64.94. Mercury Systems Inc has a 1-year low of $37.50 and a 1-year high of $85.33.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The company had revenue of $256.86 million during the quarter. As a group, analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

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.