State Street Corp Decreases Position in Mercury Systems, Inc. (NASDAQ:MRCY)

State Street Corp cut its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,198,434 shares of the technology company's stock after selling 128,901 shares during the period. State Street Corp owned about 5.36% of Mercury Systems worth $118,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company's stock valued at $25,000 after buying an additional 393 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Mercury Systems by 1,126.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company's stock valued at $31,000 after buying an additional 1,070 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Mercury Systems by 216.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company's stock valued at $64,000 after acquiring an additional 1,622 shares during the last quarter. Covestor Ltd raised its stake in Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company's stock valued at $78,000 after purchasing an additional 620 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Mercury Systems during the second quarter valued at $81,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Trading Up 3.9 %

MRCY traded up $1.46 during trading on Monday, hitting $39.33. 434,127 shares of the stock were exchanged, compared to its average volume of 575,428. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $44.63. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -19.17 and a beta of 0.78. The firm has a 50 day simple moving average of $37.78 and a 200 day simple moving average of $35.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10.

Insider Activity

In related news, COO Charles Roger Iv Wells sold 1,527 shares of the company's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 113,488 shares in the company, valued at $4,403,334.40. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

MRCY has been the topic of a number of recent research reports. StockNews.com upgraded Mercury Systems from a "sell" rating to a "hold" rating in a research report on Thursday, December 5th. Jefferies Financial Group upgraded shares of Mercury Systems from an "underperform" rating to a "hold" rating and boosted their price objective for the company from $30.00 to $42.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Alembic Global Advisors upgraded 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.29.

Mercury Systems Company 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.