Mercury Systems, Inc. (NASDAQ:MRCY) Stock Holdings Cut by Scopia Capital Management LP

Scopia Capital Management LP reduced its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 48.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 679,143 shares of the technology company’s stock after selling 626,975 shares during the period. Mercury Systems accounts for about 5.2% of Scopia Capital Management LP’s holdings, making the stock its 5th biggest position. Scopia Capital Management LP owned approximately 1.14% of Mercury Systems worth $25,128,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its position in Mercury Systems by 0.6% in the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after purchasing an additional 36,923 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mercury Systems by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,027,158 shares of the technology company’s stock worth $54,713,000 after buying an additional 20,604 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 1.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock valued at $49,183,000 after buying an additional 20,300 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Mercury Systems by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,833 shares of the technology company’s stock worth $24,377,000 after buying an additional 9,582 shares during the last quarter. Finally, Clearline Capital LP raised its position in Mercury Systems by 18.4% in the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock worth $14,213,000 after acquiring an additional 81,826 shares during the period. 95.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Mercury Systems

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 113,488 shares in the company, valued at approximately $4,403,334.40. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $41.13 on Friday. The business’s fifty day moving average is $37.43 and its 200 day moving average is $34.60. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -20.06 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 52-week low of $25.31 and a 52-week high of $44.63.

Wall Street Analyst Weigh In

MRCY has been the subject of a number of research reports. Truist Financial increased their target price on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price for the company in a research report on Monday, August 19th. StockNews.com cut Mercury Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on Mercury Systems from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group upgraded 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 note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average target price of $36.29.

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.