Mercury Systems, Inc. (NASDAQ:MRCY) Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC reduced its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 60.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the technology company’s stock after selling 52,500 shares during the period. Needham Investment Management LLC owned about 0.06% of Mercury Systems worth $1,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC increased its holdings in Mercury Systems by 0.6% during the 2nd 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. Dark Forest Capital Management LP acquired a new stake in Mercury Systems in the second quarter valued at $526,000. Raymond James & Associates boosted its stake in Mercury Systems by 40.0% during the 3rd quarter. Raymond James & Associates now owns 93,454 shares of the technology company’s stock valued at $3,458,000 after acquiring an additional 26,718 shares during the last quarter. Van ECK Associates Corp boosted its stake in Mercury Systems by 52.1% during the 2nd quarter. Van ECK Associates Corp now owns 171,618 shares of the technology company’s stock valued at $4,632,000 after acquiring an additional 58,805 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Mercury Systems by 28.7% in the 2nd quarter. Sei Investments Co. now owns 279,327 shares of the technology company’s stock worth $7,539,000 after purchasing an additional 62,371 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $39.14 on Wednesday. Mercury Systems, Inc. has a 1-year low of $25.31 and a 1-year high of $44.63. The firm has a market capitalization of $2.33 billion, a PE ratio of -19.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.10 and a quick ratio of 2.59. The business’s fifty day moving average price is $37.56 and its two-hundred day moving average price is $34.79.

Insider Buying and Selling

In other news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.80, for a total transaction 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. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MRCY shares. JPMorgan Chase & Co. lifted 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. Alembic Global Advisors upgraded 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. Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $42.00 in a research report on Monday, November 11th. Royal Bank of Canada raised their price objective on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird boosted their target price on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average price target of $36.29.

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.