Wealthfront Advisers LLC Acquires New Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Wealthfront Advisers LLC bought a new position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 76,489 shares of the technology company’s stock, valued at approximately $3,213,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Mercury Systems by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock worth $10,327,000 after acquiring an additional 7,512 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after purchasing an additional 294,747 shares during the period. Van ECK Associates Corp grew its stake in Mercury Systems by 35.1% during the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after purchasing an additional 77,254 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Mercury Systems during the 4th quarter worth about $16,601,000. Finally, FMR LLC raised its position in Mercury Systems by 46.5% in the 3rd quarter. FMR LLC now owns 3,067 shares of the technology company’s stock valued at $113,000 after purchasing an additional 974 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Trading Up 7.1 %

MRCY opened at $45.08 on Friday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -28.90 and a beta of 0.80. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The business’s 50 day moving average is $43.46 and its two-hundred day moving average is $39.86. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. On average, research analysts predict that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MRCY shares. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Thursday, January 16th. Robert W. Baird raised shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $58.00 in a research report on Wednesday, February 5th. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Truist Financial raised Mercury Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $49.00 to $56.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.86.

Insider Activity

In related news, EVP Stuart Kupinsky sold 2,377 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $104,873.24. Following the transaction, the executive vice president now owns 62,834 shares in the company, valued at $2,772,236.08. The trade was a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 2,342 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $103,329.04. Following the sale, the chief operating officer now directly owns 95,928 shares of the company’s stock, valued at $4,232,343.36. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,314 shares of company stock valued at $234,454. Insiders own 1.60% of the company’s stock.

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.