State Street Corp Sells 128,901 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

State Street Corp lowered its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 3.9% in the third quarter, Holdings Channel reports. The firm owned 3,198,434 shares of the technology company’s stock after selling 128,901 shares during the quarter. State Street Corp owned about 0.05% of Mercury Systems worth $118,342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position 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 increased its holdings 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 worth $31,000 after buying an additional 1,070 shares during the last quarter. Covestor Ltd raised its position in Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after acquiring an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mercury Systems by 216.0% in the second 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. Finally, nVerses Capital LLC bought a new position in shares of Mercury Systems in the 2nd quarter valued at about $81,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Mercury Systems from an “underperform” rating to a “hold” rating and raised their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and an average target price of $36.29.

Insiders Place Their Bets

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the sale, the chief operating officer now owns 113,488 shares of the company’s stock, valued at $4,403,334.40. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $37.87 on Monday. The stock has a 50 day simple moving average of $37.78 and a 200 day simple moving average of $35.15. The stock has a market cap of $2.26 billion, a P/E ratio of -18.47 and a beta of 0.78. Mercury Systems, Inc. has a 1-year low of $25.31 and a 1-year high of $44.63. The company has a current ratio of 4.10, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41.

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.