Oppenheimer & Co. Inc. Decreases Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Oppenheimer & Co. Inc. trimmed its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 12.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 34,450 shares of the technology company’s stock after selling 5,078 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mercury Systems were worth $1,447,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Mercury Systems by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock worth $62,000 after buying an additional 503 shares during the period. Covestor Ltd increased its stake in shares of 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 buying an additional 620 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Mercury Systems by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company’s stock worth $217,000 after buying an additional 695 shares during the period. KBC Group NV increased its stake in shares of Mercury Systems by 49.4% in the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock worth $105,000 after buying an additional 825 shares during the period. Finally, King Luther Capital Management Corp increased its stake in shares of Mercury Systems by 0.8% in the third quarter. King Luther Capital Management Corp now owns 109,045 shares of the technology company’s stock worth $4,035,000 after buying an additional 868 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRCY. Jefferies Financial Group raised shares of 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 report on Monday, November 11th. StockNews.com raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Thursday, January 16th. Truist Financial boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.14.

Insider Buying and Selling

In related news, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $26,251.40. Following the transaction, the chief accounting officer now owns 14,572 shares in the company, valued at $642,916.64. The trade was a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Charles Roger Iv Wells sold 2,342 shares of the company’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 in the company, valued at approximately $4,232,343.36. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,314 shares of company stock worth $234,454 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Mercury Systems Stock Down 1.8 %

NASDAQ:MRCY opened at $43.61 on Tuesday. The firm’s 50-day moving average price is $43.17 and its 200-day moving average price is $39.60. The company has a market capitalization of $2.60 billion, a PE ratio of -27.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25.

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

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.