Raymond James Financial Inc. Takes $4.26 Million Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Raymond James Financial Inc. purchased a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 101,384 shares of the technology company's stock, valued at approximately $4,258,000. Raymond James Financial Inc. owned about 0.17% of Mercury Systems as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRCY. Natixis Advisors LLC raised its position in Mercury Systems by 18.1% during the 3rd quarter. Natixis Advisors LLC now owns 14,686 shares of the technology company's stock valued at $543,000 after purchasing an additional 2,255 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Mercury Systems during the third quarter valued at approximately $452,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $24,377,000 after acquiring an additional 9,582 shares in the last quarter. Citigroup Inc. lifted its stake in Mercury Systems by 15.3% in the third quarter. Citigroup Inc. now owns 110,383 shares of the technology company's stock worth $4,084,000 after acquiring an additional 14,620 shares during the period. Finally, Cerity Partners LLC lifted its stake in Mercury Systems by 2.9% in the third quarter. Cerity Partners LLC now owns 58,174 shares of the technology company's stock worth $2,152,000 after acquiring an additional 1,615 shares during the period. 95.99% of the stock is currently owned by institutional investors.

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Mercury Systems Stock Down 1.8 %

Shares of NASDAQ MRCY traded down $0.78 on Friday, reaching $42.82. 341,704 shares of the company's stock traded hands, compared to its average volume of 555,167. The business's 50 day simple moving average is $44.06 and its two-hundred day simple moving average is $40.55. Mercury Systems, Inc. has a 12 month low of $26.48 and a 12 month high of $52.25. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -27.45 and a beta of 0.80. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities research analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 2,342 shares of the 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 $103,329.04. Following the sale, the chief operating officer now owns 95,928 shares in the company, valued at $4,232,343.36. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Douglas Munro sold 595 shares of the business'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 completion of the transaction, the chief accounting officer now owns 14,572 shares of the company's stock, 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. Insiders sold a total of 5,314 shares of company stock valued at $234,454 in the last quarter. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on MRCY. StockNews.com upgraded shares of Mercury Systems from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Truist Financial upgraded shares of Mercury Systems from a "hold" rating to a "buy" rating and raised their price objective for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. The Goldman Sachs Group upped their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a "sell" rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded 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 research note on Wednesday, February 5th. One 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 data from MarketBeat, Mercury Systems presently has an average rating of "Hold" and a consensus price target of $43.86.

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.