Mercury Systems, Inc. (NASDAQ:MRCY) Shares Acquired by Citigroup Inc.

Citigroup Inc. raised its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 15.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 110,383 shares of the technology company's stock after buying an additional 14,620 shares during the quarter. Citigroup Inc. owned about 0.19% of Mercury Systems worth $4,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Mercury Systems by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,833 shares of the technology company's stock worth $24,377,000 after acquiring an additional 9,582 shares during the period. Intech Investment Management LLC purchased a new position in shares of Mercury Systems in the third quarter valued at approximately $452,000. King Luther Capital Management Corp lifted its position in shares of Mercury Systems by 0.8% in the third quarter. King Luther Capital Management Corp now owns 109,045 shares of the technology company's stock valued at $4,035,000 after acquiring an additional 868 shares in the last quarter. Moors & Cabot Inc. purchased a new position in Mercury Systems during the third quarter worth approximately $279,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Mercury Systems during the third quarter worth approximately $2,831,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

MRCY traded up $0.55 on Wednesday, hitting $39.69. 2,116,838 shares of the company traded hands, compared to its average volume of 579,374. The company has a 50 day moving average of $37.63 and a 200-day moving average of $34.82. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.37 billion, a PE ratio of -19.36 and a beta of 0.78. Mercury Systems, Inc. has a 12-month low of $25.31 and a 12-month high of $44.63.

Insiders Place Their Bets

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,527 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRCY. Truist Financial lifted their price objective on Mercury Systems from $26.00 to $31.00 and gave the company a "hold" rating in a research note on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a "neutral" rating to an "overweight" rating and set a $48.00 target price for the company in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on Mercury Systems from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, August 14th. Jefferies Financial Group raised Mercury Systems from an "underperform" rating to a "hold" rating and boosted their target price for the company from $30.00 to $42.00 in a report on Monday, November 11th. Finally, Robert W. Baird boosted their target price on Mercury Systems from $26.00 to $37.00 and gave the company a "neutral" rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.29.

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.