JPMorgan Chase & Co. Increases Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

JPMorgan Chase & Co. lifted its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,220 shares of the technology company’s stock after purchasing an additional 1,731 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of Mercury Systems worth $1,710,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. M&T Bank Corp raised its position in Mercury Systems by 12.3% during the third quarter. M&T Bank Corp now owns 71,218 shares of the technology company’s stock valued at $2,635,000 after acquiring an additional 7,779 shares in the last quarter. Barclays PLC raised its position in Mercury Systems by 471.3% during the third quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock valued at $6,496,000 after acquiring an additional 144,831 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Mercury Systems during the third quarter valued at approximately $219,000. XTX Topco Ltd purchased a new position in Mercury Systems during the third quarter valued at approximately $857,000. Finally, Stifel Financial Corp purchased a new position in Mercury Systems during the third quarter valued at approximately $246,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Thursday, January 16th. Truist Financial upped their target price on Mercury Systems from $35.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and upped their target price for the stock from $30.00 to $42.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price of $39.14.

Mercury Systems Trading Down 2.1 %

NASDAQ:MRCY opened at $42.68 on Thursday. The stock’s 50 day moving average price is $40.80 and its 200 day moving average price is $37.60. The company has a market capitalization of $2.55 billion, a PE ratio of -20.82 and a beta of 0.78. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $44.63.

Insider Buying and Selling at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 1,527 shares of Mercury Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $38.80, for a total transaction of $59,247.60. Following the completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

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.