Alembic Global Advisors Upgrades Mercury Systems (NASDAQ:MRCY) to Overweight

Alembic Global Advisors upgraded shares of Mercury Systems (NASDAQ:MRCY) from a neutral rating to an overweight rating in a report published on Monday morning, Marketbeat.com reports. They currently have $48.00 price target on the technology company’s stock.

MRCY has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $24.00 to $26.00 and gave the stock a neutral rating in a report on Friday, May 24th. Truist Financial upped their price target on Mercury Systems from $26.00 to $31.00 and gave the company a hold rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on Mercury Systems from $30.00 to $35.00 and gave the stock a sector perform rating in a report on Wednesday, August 14th. Finally, Robert W. Baird upped their target price on Mercury Systems from $26.00 to $37.00 and gave the company a neutral rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $32.25.

Mercury Systems Trading Down 3.8 %

Shares of Mercury Systems stock opened at $36.90 on Monday. Mercury Systems has a 1 year low of $25.31 and a 1 year high of $42.72. The company’s fifty day simple moving average is $32.53 and its 200-day simple moving average is $30.44. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -15.70 and a beta of 0.68. The company has a current ratio of 4.58, a quick ratio of 2.93 and a debt-to-equity ratio of 0.42.

Insider Activity

In related news, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $52,916.60. Following the sale, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $1,273,907.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Mercury Systems news, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $52,916.60. Following the sale, the executive vice president now owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the transaction, the chief operating officer now directly owns 130,408 shares of the company’s stock, valued at $5,149,811.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,296 shares of company stock worth $643,529. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its holdings in Mercury Systems by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 27,911 shares of the technology company’s stock valued at $1,021,000 after acquiring an additional 357 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Mercury Systems by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock worth $710,000 after buying an additional 400 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Mercury Systems by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after buying an additional 450 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in Mercury Systems by 1.9% in the fourth quarter. Yousif Capital Management LLC now owns 25,887 shares of the technology company’s stock valued at $947,000 after buying an additional 475 shares during the period. Finally, Texas Permanent School Fund Corp boosted its stake in Mercury Systems by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock valued at $1,345,000 after acquiring an additional 514 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

About Mercury Systems

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.