Allspring Global Investments Holdings LLC Makes New $9.07 Million Investment in Mercury Systems Inc $MRCY

Allspring Global Investments Holdings LLC bought a new position in Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 179,111 shares of the technology company’s stock, valued at approximately $9,068,000.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after buying an additional 290,989 shares during the period. Royal Bank of Canada boosted its holdings in shares of Mercury Systems by 0.7% in the first quarter. Royal Bank of Canada now owns 762,406 shares of the technology company’s stock worth $32,852,000 after acquiring an additional 5,170 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Mercury Systems by 1,479.5% in the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock worth $21,228,000 after acquiring an additional 461,449 shares during the period. Principal Financial Group Inc. grew its position in shares of Mercury Systems by 11.8% in the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock valued at $11,848,000 after purchasing an additional 29,074 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Mercury Systems by 52.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 266,901 shares of the technology company’s stock valued at $11,501,000 after purchasing an additional 91,930 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MRCY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Robert W. Baird raised their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Canaccord Genuity Group initiated coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They set a “buy” rating and a $88.00 price objective for the company. Finally, Royal Bank Of Canada raised shares of Mercury Systems from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.89.

Insider Activity

In other news, EVP David E. Farnsworth sold 7,572 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the sale, the executive vice president directly owned 161,326 shares of the company’s stock, valued at approximately $10,399,073.96. The trade was a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the transaction, the director owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 848,980 shares of company stock worth $55,529,247. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

Shares of MRCY opened at $75.54 on Friday. The company has a market cap of $4.53 billion, a PE ratio of -114.45, a price-to-earnings-growth ratio of 3.09 and a beta of 0.82. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $72.53 and a 200-day moving average price of $57.65. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $85.33.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $256.86 million for the quarter. As a group, equities analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

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.