Sasco Capital Inc. CT Has $13.92 Million Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Sasco Capital Inc. CT cut its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 33.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 376,170 shares of the technology company's stock after selling 184,860 shares during the quarter. Sasco Capital Inc. CT owned 0.63% of Mercury Systems worth $13,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRCY. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Mercury Systems in the third quarter valued at $2,831,000. Natixis Advisors LLC lifted its stake in Mercury Systems by 18.1% in the 3rd quarter. Natixis Advisors LLC now owns 14,686 shares of the technology company's stock worth $543,000 after acquiring an additional 2,255 shares in the last quarter. Royce & Associates LP boosted its position in Mercury Systems by 0.9% during the 3rd quarter. Royce & Associates LP now owns 221,279 shares of the technology company's stock worth $8,187,000 after acquiring an additional 1,920 shares during the period. Zions Bancorporation N.A. grew its stake in Mercury Systems by 17.1% during the 3rd quarter. Zions Bancorporation N.A. now owns 43,834 shares of the technology company's stock valued at $1,622,000 after acquiring an additional 6,403 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Mercury Systems by 6.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,528 shares of the technology company's stock valued at $1,463,000 after purchasing an additional 2,530 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

MRCY stock traded up $0.24 during mid-day trading on Tuesday, reaching $38.97. 282,514 shares of the stock traded hands, compared to its average volume of 582,856. The firm has a market capitalization of $2.32 billion, a PE ratio of -18.89 and a beta of 0.71. The business has a 50-day moving average of $36.72 and a two-hundred day moving average of $33.94. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $44.63. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41.

Analysts Set New Price Targets

A number of brokerages recently commented on MRCY. Robert W. Baird boosted their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the company a "neutral" rating in a research 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 target on the stock in a report on Monday, August 19th. Royal Bank of Canada increased their price objective on Mercury Systems from $30.00 to $35.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. 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 report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Mercury Systems presently has an average rating of "Hold" and an average target price of $35.50.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 3,891 shares of the stock in a transaction on Wednesday, August 21st. The shares were 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. This represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Charles Roger Iv Wells sold 1,527 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $38.80, for a total transaction of $59,247.60. Following the transaction, the chief operating officer now owns 113,488 shares in the company, valued at approximately $4,403,334.40. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,330 shares of company stock valued at $281,458. Insiders own 1.60% of the company's stock.

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.