Penn Capital Management Co. Inc. lowered its position in Mercury Systems Inc (NASDAQ:MRCY) by 24.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 60,704 shares of the technology company’s stock after selling 19,457 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Mercury Systems were worth $3,243,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Mercury Systems by 3.0% in the 4th quarter. BlackRock Inc. now owns 7,240,899 shares of the technology company’s stock worth $371,819,000 after acquiring an additional 213,219 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Mercury Systems by 2.8% in the 3rd quarter. Wells Fargo & Company MN now owns 2,292,917 shares of the technology company’s stock worth $118,956,000 after acquiring an additional 62,496 shares during the period. State Street Corp grew its holdings in shares of Mercury Systems by 13.2% in the 2nd quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock worth $70,906,000 after acquiring an additional 196,075 shares during the period. Bamco Inc. NY grew its holdings in shares of Mercury Systems by 8.9% in the 3rd quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock worth $63,605,000 after acquiring an additional 100,000 shares during the period. Finally, Granite Investment Partners LLC grew its holdings in shares of Mercury Systems by 4.4% in the 3rd quarter. Granite Investment Partners LLC now owns 415,466 shares of the technology company’s stock worth $21,554,000 after acquiring an additional 17,622 shares during the period. Institutional investors and hedge funds own 94.86% of the company’s stock.
Mercury Systems Inc (NASDAQ MRCY) opened at $45.86 on Monday. The firm has a market capitalization of $2,212.41, a price-to-earnings ratio of 47.28, a P/E/G ratio of 3.68 and a beta of 0.33. Mercury Systems Inc has a 52-week low of $36.09 and a 52-week high of $55.00.
In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $51.62, for a total value of $129,050.00. Following the transaction, the chief financial officer now directly owns 215,760 shares of the company’s stock, valued at $11,137,531.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $44.44, for a total value of $426,624.00. Following the completion of the transaction, the insider now directly owns 461,782 shares in the company, valued at $20,521,592.08. The disclosure for this sale can be found here. Insiders sold a total of 67,100 shares of company stock worth $3,330,747 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.
MRCY has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating and set a $61.00 target price on shares of Mercury Systems in a report on Wednesday, January 24th. Zacks Investment Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 28th. BidaskClub cut Mercury Systems from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Robert W. Baird increased their target price on Mercury Systems from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Finally, Bank of America lowered their target price on Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.71.
Mercury Systems Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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