King Luther Capital Management Corp Has $4.37 Million Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

King Luther Capital Management Corp cut its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,074 shares of the technology company’s stock after selling 4,971 shares during the period. King Luther Capital Management Corp owned about 0.17% of Mercury Systems worth $4,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Johnson Investment Counsel Inc. raised its holdings in shares of Mercury Systems by 9.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 6,641 shares of the technology company’s stock valued at $279,000 after purchasing an additional 555 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $4,258,000. Aigen Investment Management LP acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $231,000. Victory Capital Management Inc. raised its holdings in shares of Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after purchasing an additional 294,747 shares during the last quarter. Finally, Keybank National Association OH raised its holdings in shares of Mercury Systems by 20.8% in the fourth quarter. Keybank National Association OH now owns 12,512 shares of the technology company’s stock valued at $526,000 after purchasing an additional 2,154 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mercury Systems news, COO Charles Roger Iv Wells sold 2,342 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $103,329.04. Following the completion of the transaction, the chief operating officer now owns 95,928 shares of the company’s stock, valued at approximately $4,232,343.36. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Douglas Munro sold 595 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the transaction, the chief accounting officer now directly owns 14,572 shares of the company’s stock, valued at approximately $642,916.64. The trade was a 3.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is currently owned by corporate insiders.

Mercury Systems Stock Down 2.6 %

MRCY stock opened at $42.10 on Thursday. The company has a market cap of $2.51 billion, a PE ratio of -26.99 and a beta of 0.80. The business has a 50-day simple moving average of $43.40 and a 200 day simple moving average of $39.82. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Sell-side analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a report on Thursday, January 16th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. StockNews.com raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Truist Financial boosted their target price on shares of Mercury Systems from $35.00 to $44.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.14.

Mercury Systems 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.