Mercury Systems, Inc. (NASDAQ:MRCY) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,448,303 shares of the technology company’s stock after selling 105,863 shares during the period. Westwood Holdings Group Inc. owned 2.44% of Mercury Systems worth $39,090,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. raised its holdings in shares of Mercury Systems by 27.0% during the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after buying an additional 46,132 shares during the last quarter. Jane Street Group LLC raised its stake in Mercury Systems by 102.6% during the 1st quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after acquiring an additional 130,396 shares in the last quarter. Norges Bank acquired a new position in Mercury Systems during the 4th quarter worth $13,294,000. Natixis bought a new position in shares of Mercury Systems in the first quarter worth $693,000. Finally, Van ECK Associates Corp increased its holdings in shares of Mercury Systems by 258.7% during the first quarter. Van ECK Associates Corp now owns 112,813 shares of the technology company’s stock valued at $3,328,000 after purchasing an additional 81,364 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on MRCY. Royal Bank of Canada upped their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. Robert W. Baird boosted their target price on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Truist Financial upped their target price on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.50.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY opened at $35.90 on Friday. The stock’s fifty day simple moving average is $36.03 and its 200 day simple moving average is $31.60. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -15.28 and a beta of 0.69. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The firm had revenue of $248.56 million for the quarter, compared to analysts’ expectations of $223.80 million. As a group, sell-side analysts forecast that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William L. Ballhaus sold 6,549 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $258,620.01. Following the completion of the transaction, the chief executive officer now owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Ballhaus sold 6,549 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $258,620.01. Following the transaction, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at $13,958,964.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven Ratner sold 3,891 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $38.41, for a total value of $149,453.31. Following the completion of the sale, the executive vice president now directly owns 60,079 shares of the company’s stock, valued at $2,307,634.39. The disclosure for this sale can be found here. Insiders have sold 22,099 shares of company stock worth $865,740 over the last 90 days. 1.80% of the stock is owned by company insiders.

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.