Mercury Systems Inc $MRCY Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 672,368 shares of the technology company’s stock after selling 856 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.13% of Mercury Systems worth $28,972,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MRCY. Neo Ivy Capital Management acquired a new stake in Mercury Systems in the fourth quarter valued at about $33,000. GAMMA Investing LLC grew its stake in Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp grew its stake in Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after acquiring an additional 451 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Nkcfo LLC acquired a new position in shares of Mercury Systems in the 1st quarter valued at $72,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRCY. Raymond James Financial upgraded shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. Royal Bank Of Canada boosted their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, July 3rd. Robert W. Baird boosted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research report on Wednesday, August 13th. Finally, Truist Financial boosted their price objective on shares of Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.71.

Mercury Systems Trading Down 3.9%

Shares of NASDAQ:MRCY opened at $64.22 on Wednesday. The company has a 50 day moving average of $53.75 and a 200-day moving average of $48.93. The firm has a market cap of $3.85 billion, a P/E ratio of -97.30, a P/E/G ratio of 3.13 and a beta of 0.72. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $69.95. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. The company had revenue of $273.11 million during the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. As a group, analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director directly owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven Ratner sold 1,839 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were 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 owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

About Mercury Systems

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.