Redwood Investment Management LLC Reduces Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Redwood Investment Management LLC cut its holdings in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 33.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,362 shares of the technology company’s stock after selling 35,967 shares during the quarter. Redwood Investment Management LLC’s holdings in Mercury Systems were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. William Blair Investment Management LLC raised its holdings in shares of Mercury Systems by 0.6% during the second 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. Dimensional Fund Advisors LP grew its position in Mercury Systems by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,027,158 shares of the technology company’s stock worth $54,713,000 after purchasing an additional 20,604 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of Mercury Systems by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,329,265 shares of the technology company’s stock valued at $49,183,000 after buying an additional 20,300 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mercury Systems by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 658,833 shares of the technology company’s stock valued at $24,377,000 after buying an additional 9,582 shares during the period. Finally, Clearline Capital LP boosted its stake in shares of Mercury Systems by 18.4% in the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company’s stock worth $14,213,000 after buying an additional 81,826 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $39.69 on Thursday. The stock has a 50 day moving average of $37.63 and a two-hundred day moving average of $34.82. Mercury Systems, Inc. has a 12 month low of $25.31 and a 12 month high of $44.63. The company has a current ratio of 4.10, a quick ratio of 2.59 and a debt-to-equity ratio of 0.41.

Insider Buying and Selling

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,527 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the sale, the chief operating officer now directly owns 113,488 shares of the company’s stock, valued at $4,403,334.40. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Robert W. Baird lifted their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. StockNews.com downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their target price on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a research report on Monday, August 19th. Finally, Truist Financial increased their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and an average target price of $36.29.

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.