American International Group Inc. Sells 791 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Posted by on Jun 4th, 2023

American International Group Inc. trimmed its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY – Get Rating) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,213 shares of the technology company’s stock after selling 791 shares during the quarter. American International Group Inc. owned 0.16% of Mercury Systems worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Starboard Value LP purchased a new position in shares of Mercury Systems in the first quarter worth approximately $230,973,000. Invesco Ltd. grew its position in shares of Mercury Systems by 218.0% during the 1st quarter. Invesco Ltd. now owns 720,322 shares of the technology company’s stock valued at $46,425,000 after acquiring an additional 493,801 shares during the period. State Street Corp raised its holdings in Mercury Systems by 16.1% in the 3rd quarter. State Street Corp now owns 2,765,679 shares of the technology company’s stock worth $112,287,000 after purchasing an additional 382,507 shares during the period. Emerald Advisers LLC purchased a new position in Mercury Systems during the fourth quarter valued at $14,405,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Mercury Systems during the fourth quarter valued at about $9,751,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $41.03 on Friday. The stock has a 50 day moving average price of $45.29 and a 200-day moving average price of $47.98. Mercury Systems, Inc. has a one year low of $34.13 and a one year high of $65.42. The company has a current ratio of 4.26, a quick ratio of 2.70 and a debt-to-equity ratio of 0.33.

Analyst Ratings Changes

Several equities analysts have weighed in on MRCY shares. Jefferies Financial Group lifted their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “hold” rating in a report on Monday, February 6th. StockNews.com downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada cut their price target on Mercury Systems from $54.00 to $45.00 in a research note on Wednesday, May 3rd. Finally, Truist Financial dropped their price objective on Mercury Systems from $69.00 to $58.00 in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.00.

About Mercury Systems

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Mercury Systems, Inc is a global commercial technology company, which serves the aerospace and defense industry. It offers products through the following categories: Components, Modules and Sub-Assemblies, and Integrated Subsystems. The Components category refers to technology elements performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly.

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

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