CIBC Asset Management Inc Purchases New Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

CIBC Asset Management Inc purchased a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,362 shares of the technology company’s stock, valued at approximately $225,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Mercury Systems by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock valued at $10,327,000 after purchasing an additional 7,512 shares during the last quarter. Van ECK Associates Corp grew its stake in Mercury Systems by 35.1% in the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after acquiring an additional 77,254 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Mercury Systems in the 4th quarter worth about $75,000. Verity Asset Management Inc. grew its stake in Mercury Systems by 20.8% in the 4th quarter. Verity Asset Management Inc. now owns 8,943 shares of the technology company’s stock worth $376,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after acquiring an additional 743,552 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Insider Transactions at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,377 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $104,873.24. Following the sale, the executive vice president now directly owns 62,834 shares of the company’s stock, valued at $2,772,236.08. This represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $26,251.40. Following the sale, the chief accounting officer now directly owns 14,572 shares in the company, valued at approximately $642,916.64. The trade was a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,314 shares of company stock worth $234,454. 1.60% of the stock is currently owned by insiders.

Mercury Systems Stock Performance

MRCY opened at $43.48 on Wednesday. The firm has a market capitalization of $2.59 billion, a PE ratio of -27.87 and a beta of 0.79. Mercury Systems, Inc. has a twelve month low of $26.48 and a twelve month high of $52.25. The firm’s 50-day moving average price is $42.72 and its 200 day moving average price is $39.36. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRCY has been the subject of several research reports. Jefferies Financial Group raised shares of Mercury Systems from an “underperform” rating to a “hold” rating and upped their price target for the stock from $30.00 to $42.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Truist Financial raised their target price on shares of Mercury Systems from $35.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their target price 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. Finally, Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.14.

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.