Mercury Systems Inc $MRCY Shares Sold by Citigroup Inc.

Citigroup Inc. cut its position in Mercury Systems Inc (NASDAQ:MRCY) by 34.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,058 shares of the technology company’s stock after selling 30,993 shares during the quarter. Citigroup Inc. owned 0.10% of Mercury Systems worth $4,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. Emerald Advisers LLC lifted its holdings in Mercury Systems by 16.7% during the 3rd quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after buying an additional 76,379 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Mercury Systems by 42.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company’s stock valued at $17,444,000 after acquiring an additional 67,518 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Mercury Systems by 75.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,796 shares of the technology company’s stock worth $2,151,000 after purchasing an additional 11,989 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in shares of Mercury Systems by 27.7% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 336,058 shares of the technology company’s stock worth $26,011,000 after buying an additional 72,840 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Mercury Systems by 18.7% in the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock worth $15,917,000 after acquiring an additional 32,443 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group upped their price objective on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Raymond James Financial restated a “strong-buy” rating and set a $100.00 target price on shares of Mercury Systems in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.89.

Insiders Place Their Bets

In related news, Director Howard L. Lance sold 4,832 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total transaction of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares of the company’s stock, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stuart Kupinsky sold 2,287 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $191,101.72. Following the transaction, the executive vice president owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 407,701 shares of company stock valued at $33,069,685. Company insiders own 1.40% of the company’s stock.

Mercury Systems Stock Down 1.7%

MRCY stock opened at $89.43 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.37 billion, a PE ratio of -168.74, a PEG ratio of 8.82 and a beta of 0.77. The company has a fifty day simple moving average of $88.30 and a 200 day simple moving average of $78.45. Mercury Systems Inc has a 1 year low of $39.89 and a 1 year high of $103.84.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The firm had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. During the same period in the previous year, the company earned $0.07 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.