King Luther Capital Management Corp Cuts Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

King Luther Capital Management Corp reduced its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 23.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,126 shares of the technology company’s stock after selling 30,061 shares during the quarter. King Luther Capital Management Corp owned about 0.17% of Mercury Systems worth $3,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MRCY. VisionPoint Advisory Group LLC increased its stake in Mercury Systems by 110.9% in the third quarter. VisionPoint Advisory Group LLC now owns 715 shares of the technology company’s stock valued at $27,000 after acquiring an additional 376 shares during the last quarter. Psagot Value Holdings Ltd. Israel grew its position in Mercury Systems by 511.5% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 1,278 shares of the technology company’s stock valued at $47,000 after acquiring an additional 1,069 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Mercury Systems during the fourth quarter worth approximately $169,000. Gabelli Funds LLC bought a new stake in shares of Mercury Systems in the 3rd quarter worth approximately $264,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Mercury Systems in the 3rd quarter valued at $275,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several recent research reports. Truist Financial lowered their price target on shares of Mercury Systems from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. The Goldman Sachs Group dropped their price objective on Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 8th. Finally, Royal Bank of Canada lowered their price target on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.63.

Mercury Systems Trading Down 1.4 %

Shares of NASDAQ:MRCY traded down $0.45 on Thursday, hitting $31.61. The company had a trading volume of 38,589 shares, compared to its average volume of 530,719. The firm’s 50-day simple moving average is $28.88 and its two-hundred day simple moving average is $31.36. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -13.64 and a beta of 0.68. The company has a quick ratio of 2.93, a current ratio of 4.58 and a debt-to-equity ratio of 0.42. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $43.84.

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.