Mirae Asset Global Investments Co. Ltd. Sells 238 Shares of Mercury Systems Inc $MRCY

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,271 shares of the technology company’s stock after selling 238 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Mercury Systems were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MRCY. GAMMA Investing LLC raised its position in shares of Mercury Systems by 25.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company’s stock valued at $71,000 after acquiring an additional 264 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Mercury Systems by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company’s stock valued at $507,000 after acquiring an additional 449 shares during the period. Fifth Third Bancorp raised its position in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after acquiring an additional 451 shares during the period. US Bancorp DE raised its position in shares of Mercury Systems by 43.0% in the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company’s stock valued at $107,000 after acquiring an additional 749 shares during the period. Finally, Altfest L J & Co. Inc. raised its position in shares of Mercury Systems by 4.6% in the 1st quarter. Altfest L J & Co. Inc. now owns 17,602 shares of the technology company’s stock valued at $758,000 after acquiring an additional 770 shares during the period. Institutional investors own 95.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MRCY. Royal Bank Of Canada upgraded shares of Mercury Systems from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 1st. Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Raymond James Financial raised shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $55.00 to $80.00 in a research report on Tuesday, August 12th. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research report on Wednesday, August 13th. Finally, Canaccord Genuity Group assumed coverage on shares of Mercury Systems in a research report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.67.

Insider Buying and Selling at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 797,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. The trade was a 11.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the transaction, the executive vice president owned 161,326 shares in the company, valued at approximately $10,399,073.96. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock valued at $55,529,247 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

NASDAQ MRCY opened at $73.58 on Monday. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $85.33. The company has a market capitalization of $4.42 billion, a PE ratio of -111.48, a price-to-earnings-growth ratio of 3.06 and a beta of 0.82. The firm’s 50 day moving average is $70.17 and its 200-day moving average is $56.58.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $256.86 million for the quarter. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Mercury Systems 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.