King Luther Capital Management Corp Raises Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

King Luther Capital Management Corp raised its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,045 shares of the technology company’s stock after acquiring an additional 868 shares during the quarter. King Luther Capital Management Corp’s holdings in Mercury Systems were worth $4,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of Mercury Systems by 144.0% in the 3rd quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock worth $25,000 after buying an additional 393 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Mercury Systems by 1,126.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $31,000 after buying an additional 1,070 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Mercury Systems by 216.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock worth $64,000 after acquiring an additional 1,622 shares during the period. Covestor Ltd raised its position in Mercury Systems by 41.2% in 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. Finally, nVerses Capital LLC acquired a new stake in Mercury Systems in the 2nd quarter valued at about $81,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Transactions at Mercury Systems

In related news, Director Jana Partners Management, Lp bought 13,600 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares in the company, valued at $258,687,579.25. This trade represents a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at approximately $431,675.73. This trade represents a 13.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,439 shares of company stock worth $132,005 in the last 90 days. 1.60% of the stock is owned by insiders.

Mercury Systems Price Performance

MRCY opened at $40.94 on Friday. The company has a current ratio of 4.10, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $44.63. The stock has a fifty day moving average price of $36.90 and a 200 day moving average price of $34.08. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -19.97 and a beta of 0.71.

Wall Street Analyst Weigh In

Several research firms recently commented on MRCY. JPMorgan Chase & Co. increased their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised their price objective on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. StockNews.com lowered Mercury Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Financial Group upgraded Mercury Systems from an “underperform” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $42.00 in a report on Monday, November 11th. Finally, Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.50.

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.