Zions Bancorporation National Association UT Increases Stake in Mercury Systems Inc $MRCY

Zions Bancorporation National Association UT grew its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,286 shares of the technology company’s stock after purchasing an additional 3,557 shares during the quarter. Zions Bancorporation National Association UT owned approximately 0.10% of Mercury Systems worth $3,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MetLife Investment Management LLC raised its holdings in Mercury Systems by 1,479.5% during the 1st quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock valued at $21,228,000 after buying an additional 461,449 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Mercury Systems in the second quarter valued at about $24,599,000. Conestoga Capital Advisors LLC increased its position in shares of Mercury Systems by 13.3% in the second quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock valued at $137,824,000 after acquiring an additional 300,749 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Mercury Systems during the second quarter worth about $14,177,000. Institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In other news, EVP David E. Farnsworth sold 7,572 shares of Mercury Systems stock in a transaction that occurred 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 transaction, the executive vice president directly owned 161,326 shares in the company, valued at approximately $10,399,073.96. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the sale, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 848,980 shares of company stock worth $55,529,247 over the last 90 days. 1.40% of the stock is currently owned by insiders.

Mercury Systems Trading Down 1.7%

NASDAQ MRCY opened at $74.07 on Friday. The firm has a market capitalization of $4.45 billion, a PE ratio of -112.23, a P/E/G ratio of 3.17 and a beta of 0.79. The stock’s 50 day moving average is $75.85 and its 200 day moving average is $61.04. Mercury Systems Inc has a twelve month low of $37.28 and a twelve month high of $85.33. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRCY. Zacks Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research report on Wednesday, August 13th. Truist Financial boosted their target price on Mercury Systems from $71.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. UBS Group set a $88.00 price target on Mercury Systems in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Mercury Systems has an average rating of “Moderate Buy” and an average price target of $76.67.

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.