Van ECK Associates Corp Buys 48,237 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Van ECK Associates Corp raised its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 28.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 219,855 shares of the technology company’s stock after acquiring an additional 48,237 shares during the quarter. Van ECK Associates Corp’s holdings in Mercury Systems were worth $7,431,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MRCY. Westwood Holdings Group Inc. grew its stake in Mercury Systems by 14.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock valued at $45,848,000 after purchasing an additional 199,600 shares during the period. Roubaix Capital LLC purchased a new stake in shares of Mercury Systems in the 2nd quarter valued at about $3,684,000. Jane Street Group LLC raised its holdings in shares of Mercury Systems by 102.6% in the 1st quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after acquiring an additional 130,396 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Mercury Systems in the 2nd quarter valued at about $3,079,000. Finally, Clearline Capital LP raised its holdings in shares of Mercury Systems by 18.4% during the 2nd 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 in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Trading Down 0.6 %

MRCY opened at $41.95 on Friday. The stock’s fifty day moving average is $36.09 and its two-hundred day moving average is $33.22. The company has a market capitalization of $2.50 billion, a P/E ratio of -17.55 and a beta of 0.71. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $42.93. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. The company had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. Analysts forecast that Mercury Systems, Inc. will post -0.52 earnings per share for the current year.

Analyst Ratings Changes

MRCY has been the topic of several recent research reports. 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 research report on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday. 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. Royal Bank of Canada lifted their price objective on Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird boosted their price target on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $34.00.

Insider Activity at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at approximately $5,149,811.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $52,916.60. Following the sale, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $1,273,907.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Charles Roger Iv Wells sold 1,346 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the transaction, the chief operating officer now directly owns 130,408 shares in the company, valued at $5,149,811.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,099 shares of company stock worth $865,740 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

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.