Sasco Capital Inc. CT Sells 184,860 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Sasco Capital Inc. CT cut its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 33.0% during the third quarter, HoldingsChannel.com reports. The firm owned 376,170 shares of the technology company’s stock after selling 184,860 shares during the period. Sasco Capital Inc. CT’s holdings in Mercury Systems were worth $13,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Signaturefd LLC raised its holdings in shares of Mercury Systems by 144.0% in the third quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock valued at $25,000 after buying an additional 393 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Mercury Systems by 1,126.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock worth $31,000 after purchasing an additional 1,070 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in Mercury Systems by 216.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock valued at $64,000 after acquiring an additional 1,622 shares during the period. Covestor Ltd increased its holdings 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 acquiring an additional 620 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Mercury Systems during the second quarter worth about $81,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Steven Ratner sold 3,891 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $38.41, for a total value of $149,453.31. Following the completion of the transaction, the executive vice president now directly owns 60,079 shares in the company, valued at approximately $2,307,634.39. This represents a 6.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp bought 13,600 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $37.25 per share, with a total value of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. This represents a 0.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 5,803 shares of company stock worth $222,211. Corporate insiders own 1.60% of the company’s stock.

Mercury Systems Price Performance

Shares of MRCY stock opened at $38.73 on Tuesday. The business has a fifty day simple moving average of $36.72 and a 200 day simple moving average of $33.94. The company has a market cap of $2.31 billion, a P/E ratio of -18.89 and a beta of 0.71. The company has a quick ratio of 2.59, a current ratio of 4.10 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a twelve month low of $25.31 and a twelve month high of $44.63.

Analyst Ratings Changes

Several research firms have recently weighed in on MRCY. StockNews.com cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Truist Financial lifted their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Finally, Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research report 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and an average target price of $35.50.

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.