Mercury Systems Inc $MRCY Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. trimmed its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 51.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,620 shares of the technology company’s stock after selling 8,207 shares during the quarter. Cim Investment Management Inc.’s holdings in Mercury Systems were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in MRCY. Vanguard Group Inc. raised its holdings in shares of Mercury Systems by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock worth $443,582,000 after purchasing an additional 221,093 shares in the last quarter. State Street Corp boosted its holdings in Mercury Systems by 8.7% during the second quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after buying an additional 259,388 shares in the last quarter. First Trust Advisors LP grew its position in Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after buying an additional 751,813 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after buying an additional 943,736 shares in the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Mercury Systems by 4.9% during the 3rd quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company’s stock valued at $100,255,000 after acquiring an additional 60,483 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Up 0.8%

Shares of MRCY opened at $81.35 on Wednesday. The business’s fifty day moving average price is $89.99 and its two-hundred day moving average price is $79.69. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -153.49, a PEG ratio of 7.82 and a beta of 0.77. Mercury Systems Inc has a 52 week low of $39.89 and a 52 week high of $103.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96.

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

Analysts Set New Price Targets

MRCY has been the subject of several research reports. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research note on Wednesday, February 4th. The Goldman Sachs Group increased their price target on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 target price on shares of Mercury Systems in a report on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mercury Systems has an average rating of “Hold” and an average price target of $86.89.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 100,899 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the transaction, the director directly owned 4,114,618 shares in the company, valued at approximately $368,998,942.24. This represents a 2.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Howard L. Lance sold 4,832 shares of Mercury Systems stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total transaction of $429,951.36. Following the sale, the director owned 27,272 shares of the company’s stock, valued at approximately $2,426,662.56. This represents a 15.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by company insiders.

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.