Victory Capital Management Inc. Sells 48,314 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Victory Capital Management Inc. decreased its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,765,384 shares of the technology company's stock after selling 48,314 shares during the quarter. Victory Capital Management Inc. owned about 2.97% of Mercury Systems worth $65,319,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MRCY. Signaturefd LLC boosted its stake in shares of Mercury Systems by 144.0% during the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company's stock worth $25,000 after purchasing an additional 393 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Mercury Systems by 1,126.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company's stock worth $31,000 after purchasing an additional 1,070 shares during the period. Covestor Ltd increased its stake in Mercury Systems by 41.2% in 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Mercury Systems by 216.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company's stock worth $64,000 after buying an additional 1,622 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Mercury Systems in the 2nd quarter valued at about $81,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY traded down $1.44 on Friday, hitting $39.40. The company's stock had a trading volume of 139,571 shares, compared to its average volume of 583,578. The stock's 50-day moving average is $36.61 and its two-hundred day moving average is $33.73. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -19.71 and a beta of 0.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. Mercury Systems, Inc. has a 12 month low of $25.31 and a 12 month high of $44.63.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 3.96% and a negative net margin of 13.80%. The business had revenue of $248.56 million during the quarter, compared to analysts' expectations of $223.80 million. On average, equities research analysts forecast that Mercury Systems, Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MRCY shares. Royal Bank of Canada lifted their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, August 14th. StockNews.com cut shares of Mercury Systems from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Jefferies Financial Group raised Mercury Systems from an "underperform" rating to a "hold" rating and increased their price target for the company from $30.00 to $42.00 in a report on Monday. Truist Financial upped their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the company a "hold" rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Mercury Systems presently has an average rating of "Hold" and a consensus target price of $35.50.

Insiders Place Their Bets

In related news, COO Charles Roger Iv Wells sold 1,346 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the sale, the chief operating officer now directly owns 130,408 shares of the company's stock, valued at approximately $5,149,811.92. This represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp bought 13,600 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $37.25 per share, with a total value of $506,600.00. Following the completion of the purchase, the director now owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. The trade was a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 22,099 shares of company stock worth $865,740. Company 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.