Van ECK Associates Corp Buys 77,254 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Van ECK Associates Corp raised its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 35.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,109 shares of the technology company’s stock after buying an additional 77,254 shares during the period. Van ECK Associates Corp owned about 0.50% of Mercury Systems worth $12,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MRCY. Signaturefd LLC increased its stake in 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 acquiring an additional 393 shares during the last quarter. nVerses Capital LLC increased its position in shares of Mercury Systems by 16.7% during the 3rd quarter. nVerses Capital LLC now owns 3,500 shares of the technology company’s stock valued at $130,000 after purchasing an additional 500 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Mercury Systems by 43.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company’s stock valued at $62,000 after buying an additional 503 shares in the last quarter. Covestor Ltd lifted its position in Mercury Systems by 41.2% in the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after buying an additional 620 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Mercury Systems by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company’s stock worth $217,000 after buying an additional 695 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

MRCY opened at $44.45 on Friday. The stock’s 50 day moving average price is $42.12 and its 200-day moving average price is $38.92. Mercury Systems, Inc. has a 52-week low of $26.48 and a 52-week high of $52.25. The stock has a market capitalization of $2.65 billion, a PE ratio of -28.49 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 3.62.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. On average, equities research analysts predict that Mercury Systems, Inc. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Mercury Systems from $35.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, January 14th. StockNews.com raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. Jefferies Financial Group raised Mercury Systems from an “underperform” rating to a “hold” rating and boosted their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.14.

Insider Buying and Selling at Mercury Systems

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 transaction of $59,247.60. Following the completion of the transaction, the chief operating officer now owns 113,488 shares of the company’s stock, valued at approximately $4,403,334.40. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

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.