Lazard Asset Management LLC Sells 27,609 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Lazard Asset Management LLC reduced its stake in Mercury Systems, Inc. (NASDAQ:MRCYGet Rating) by 85.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,790 shares of the technology company’s stock after selling 27,609 shares during the period. Lazard Asset Management LLC’s holdings in Mercury Systems were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jump Financial LLC acquired a new stake in shares of Mercury Systems in the 3rd quarter valued at approximately $2,695,000. Value Holdings Management CO. LLC boosted its stake in shares of Mercury Systems by 91.9% in the 4th quarter. Value Holdings Management CO. LLC now owns 19,000 shares of the technology company’s stock valued at $1,046,000 after purchasing an additional 9,100 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Mercury Systems by 77.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,822,173 shares of the technology company’s stock valued at $133,827,000 after purchasing an additional 1,234,915 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Mercury Systems by 34.1% in the 3rd quarter. Victory Capital Management Inc. now owns 11,900 shares of the technology company’s stock valued at $565,000 after purchasing an additional 3,023 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Mercury Systems in the 3rd quarter valued at approximately $8,496,000. Institutional investors own 92.15% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Mercury Systems in a research note on Friday, January 21st. They issued a “buy” rating and a $76.00 price target on the stock. StockNews.com started coverage on shares of Mercury Systems in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Mercury Systems from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, February 14th. Jefferies Financial Group downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating and lifted their target price for the stock from $62.00 to $65.00 in a research report on Friday, April 8th. Finally, Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $71.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.11.

Shares of NASDAQ MRCY opened at $59.23 on Friday. The company has a market capitalization of $3.36 billion, a P/E ratio of 282.06, a price-to-earnings-growth ratio of 17.11 and a beta of 0.99. Mercury Systems, Inc. has a 52-week low of $44.44 and a 52-week high of $72.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.71 and a current ratio of 4.13. The company’s 50 day moving average price is $61.86 and its 200-day moving average price is $56.67.

Mercury Systems (NASDAQ:MRCYGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The technology company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The firm had revenue of $233.75 million during the quarter, compared to analyst estimates of $249.34 million. Mercury Systems had a return on equity of 6.12% and a net margin of 1.29%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Analysts forecast that Mercury Systems, Inc. will post 1.89 earnings per share for the current year.

Mercury Systems Profile (Get Rating)

Mercury Systems, Inc, a technology company, engages in the manufacture and sale of components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. The company's products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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