Public Sector Pension Investment Board Cuts Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Public Sector Pension Investment Board decreased its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,099 shares of the technology company’s stock after selling 7,800 shares during the period. Public Sector Pension Investment Board’s holdings in Mercury Systems were worth $3,963,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MRCY. 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 valued at $25,000 after purchasing an additional 393 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Mercury Systems by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock valued at $710,000 after acquiring an additional 400 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Mercury Systems by 16.7% during the third quarter. nVerses Capital LLC now owns 3,500 shares of the technology company’s stock worth $130,000 after acquiring an additional 500 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Mercury Systems by 43.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock worth $62,000 after acquiring an additional 503 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Mercury Systems by 41.2% in the 3rd 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. Institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MRCY shares. StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and boosted their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. Robert W. Baird raised their price target on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $36.29.

Mercury Systems Price Performance

Shares of MRCY stock opened at $40.01 on Tuesday. 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 fifty-two week low of $25.31 and a fifty-two week high of $44.63. The firm has a market cap of $2.39 billion, a P/E ratio of -19.52 and a beta of 0.71. The business’s 50 day moving average price is $37.51 and its 200-day moving average price is $34.73.

Insider Activity at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,527 shares of Mercury Systems stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

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.