King Luther Capital Management Corp Raises Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

King Luther Capital Management Corp raised its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,045 shares of the technology company’s stock after purchasing an additional 868 shares during the period. King Luther Capital Management Corp owned 0.18% of Mercury Systems worth $4,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UniSuper Management Pty Ltd bought a new stake in Mercury Systems in the first quarter valued at approximately $342,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Mercury Systems by 10.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 46,085 shares of the technology company’s stock valued at $1,359,000 after purchasing an additional 4,222 shares in the last quarter. Natixis purchased a new stake in shares of Mercury Systems in the 1st quarter worth about $693,000. Gabelli Funds LLC grew its holdings in Mercury Systems by 72.9% in the first quarter. Gabelli Funds LLC now owns 11,859 shares of the technology company’s stock worth $350,000 after purchasing an additional 5,000 shares during the period. Finally, Lazard Asset Management LLC increased its position in Mercury Systems by 26.6% during the 1st quarter. Lazard Asset Management LLC now owns 5,826 shares of the technology company’s stock valued at $171,000 after buying an additional 1,223 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the transaction, the chief operating officer now owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Debora A. Plunkett sold 1,843 shares of Mercury Systems stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the sale, the director now directly owns 11,339 shares in the company, valued at approximately $431,675.73. The trade was a 13.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,439 shares of company stock valued at $132,005. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on MRCY. StockNews.com downgraded Mercury Systems from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird raised their price objective on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada upped their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $35.50.

Mercury Systems Trading Up 2.4 %

Shares of Mercury Systems stock opened at $40.94 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -19.97 and a beta of 0.71. The stock has a 50 day moving average of $36.90 and a 200 day moving average of $34.08. Mercury Systems, Inc. has a fifty-two week low of $25.31 and a fifty-two week high of $44.63.

Mercury Systems Company 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.