William Blair Investment Management LLC Sells 866,911 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

William Blair Investment Management LLC lowered its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,432,601 shares of the technology company's stock after selling 866,911 shares during the quarter. Mercury Systems makes up approximately 0.7% of William Blair Investment Management LLC's holdings, making the stock its 27th biggest position. William Blair Investment Management LLC owned about 10.78% of Mercury Systems worth $270,169,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its stake in shares of 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 valued at $87,058,000 after acquiring an additional 743,552 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of 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 worth $86,526,000 after buying an additional 294,747 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Mercury Systems by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,224 shares of the technology company's stock worth $28,275,000 after buying an additional 14,391 shares during the period. Fisher Asset Management LLC acquired a new position in Mercury Systems in the 4th quarter valued at $16,601,000. Finally, 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 valued at $12,479,000 after buying an additional 77,254 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MRCY shares. Truist Financial upgraded shares of Mercury Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $49.00 to $56.00 in a report on Thursday, March 13th. Robert W. Baird raised Mercury Systems from a "neutral" rating to an "outperform" rating and raised their target price for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. Baird R W upgraded Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com upgraded shares of Mercury Systems from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group upped their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the company a "sell" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $43.86.

Mercury Systems Price Performance

Shares of MRCY stock traded down $1.17 during trading hours on Friday, hitting $45.29. 1,019,113 shares of the company's stock were exchanged, compared to its average volume of 533,937. The stock's 50-day moving average is $43.78 and its 200-day moving average is $40.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -29.03 and a beta of 0.80.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. As a group, research analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Insider Activity

In related news, COO Charles Roger Iv Wells sold 2,342 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Douglas Munro sold 595 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the sale, the chief accounting officer now owns 14,572 shares of the company's stock, valued at $642,916.64. This represents a 3.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is currently owned by insiders.

About Mercury Systems

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.