Macquarie Group Ltd. Lowers Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Macquarie Group Ltd. trimmed its holdings in Mercury Systems, Inc. (NASDAQ:MRCY – Get Rating) by 67.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,367 shares of the technology company’s stock after selling 104,617 shares during the quarter. Macquarie Group Ltd. owned 0.09% of Mercury Systems worth $2,038,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MRCY. Eagle Bay Advisors LLC boosted its stake in shares of Mercury Systems by 277.9% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,024 shares of the technology company’s stock worth $66,000 after acquiring an additional 753 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Mercury Systems by 60.7% during the 1st quarter. Captrust Financial Advisors now owns 1,573 shares of the technology company’s stock worth $101,000 after purchasing an additional 594 shares during the last quarter. Eaton Vance Management raised its position in shares of Mercury Systems by 50.4% during the 1st quarter. Eaton Vance Management now owns 3,356 shares of the technology company’s stock worth $216,000 after purchasing an additional 1,124 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of Mercury Systems during the 2nd quarter worth about $219,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Mercury Systems during the 1st quarter worth about $222,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Price Performance

Shares of MRCY opened at $49.85 on Friday. The firm’s fifty day simple moving average is $50.92 and its 200-day simple moving average is $48.33. Mercury Systems, Inc. has a twelve month low of $40.48 and a twelve month high of $68.38. The company has a current ratio of 4.47, a quick ratio of 2.92 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -623.13, a PEG ratio of 24.58 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MRCY shares. Jefferies Financial Group increased their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, February 6th. Royal Bank of Canada downgraded shares of Mercury Systems from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $66.00 to $54.00 in a report on Friday, December 16th. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Saturday, January 14th. Finally, Raymond James increased their price objective on shares of Mercury Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.67.

Insider Buying and Selling

In related news, EVP Christopher C. Cambria sold 476 shares of Mercury Systems stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $54.37, for a total transaction of $25,880.12. Following the sale, the executive vice president now directly owns 117,858 shares in the company, valued at approximately $6,407,939.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christopher C. Cambria sold 476 shares of Mercury Systems stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $54.37, for a total transaction of $25,880.12. Following the sale, the executive vice president now directly owns 117,858 shares in the company, valued at approximately $6,407,939.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Aslett sold 4,765 shares of Mercury Systems stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $52.98, for a total transaction of $252,449.70. Following the completion of the transaction, the chief executive officer now owns 513,638 shares in the company, valued at $27,212,541.24. The disclosure for this sale can be found here. Insiders have sold 10,851 shares of company stock worth $582,461 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Mercury Systems Profile

(Get Rating)

Mercury Systems, Inc is a global commercial technology company, which serves the aerospace and defense industry. It offers products through the following categories: Components, Modules and Sub-Assemblies, and Integrated Subsystems. The Components category refers to technology elements performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly.