Redwood Investment Management LLC Trims Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Redwood Investment Management LLC lessened its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 33.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,362 shares of the technology company's stock after selling 35,967 shares during the period. Redwood Investment Management LLC owned 0.12% of Mercury Systems worth $2,714,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MRCY. Roubaix Capital LLC bought a new stake in Mercury Systems during the second quarter valued at $3,684,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Mercury Systems during the second quarter valued at $3,079,000. Clearline Capital LP boosted its stake in Mercury Systems by 18.4% during the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company's stock valued at $14,213,000 after buying an additional 81,826 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Mercury Systems during the third quarter valued at $2,831,000. Finally, Sei Investments Co. boosted its stake in Mercury Systems by 28.7% during the second quarter. Sei Investments Co. now owns 279,327 shares of the technology company's stock valued at $7,539,000 after buying an additional 62,371 shares during the period. Institutional investors own 95.99% of the company's stock.

Insider Activity

In related news, 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 $4,403,334.40. The trade was a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MRCY shares. Robert W. Baird lifted their price objective on Mercury Systems from $26.00 to $37.00 and gave the company a "neutral" rating in a research note on Wednesday, August 14th. StockNews.com raised Mercury Systems from a "sell" rating to a "hold" rating in a research note on Thursday. Truist Financial lifted their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a "hold" rating in a research note on Wednesday, August 14th. Jefferies Financial Group raised Mercury Systems from an "underperform" rating to a "hold" rating and lifted their price target for the stock from $30.00 to $42.00 in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.29.

Mercury Systems Trading Down 3.3 %

Shares of NASDAQ MRCY traded down $1.32 during midday trading on Thursday, reaching $38.37. The company had a trading volume of 666,237 shares, compared to its average volume of 579,744. Mercury Systems, Inc. has a one year low of $25.31 and a one year 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. The firm's fifty day moving average price is $37.66 and its 200-day moving average price is $34.85. The stock has a market cap of $2.29 billion, a PE ratio of -18.72 and a beta of 0.78.

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.