William Blair Investment Management LLC decreased its holdings in Mercury Systems Inc (NASDAQ:MRCY – Free Report) by 60.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 984,273 shares of the technology company’s stock after selling 1,503,684 shares during the quarter. William Blair Investment Management LLC’s holdings in Mercury Systems were worth $71,862,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MRCY. AQR Capital Management LLC bought a new position in Mercury Systems in the 1st quarter valued at $755,000. Goldman Sachs Group Inc. raised its position 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 valued at $36,861,000 after purchasing an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after purchasing an additional 18,916 shares during the last quarter. Jane Street Group LLC raised its position in Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Mercury Systems by 30.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock valued at $6,731,000 after purchasing an additional 29,057 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on MRCY. Royal Bank Of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. The Goldman Sachs Group lifted their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and set a $95.00 target price on shares of Mercury Systems in a research report on Sunday, May 10th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Mercury Systems currently has an average rating of “Moderate Buy” and a consensus price target of $89.89.
Mercury Systems Stock Performance
MRCY stock opened at $98.55 on Monday. The company has a market cap of $5.92 billion, a P/E ratio of -410.63 and a beta of 0.83. Mercury Systems Inc has a twelve month low of $45.88 and a twelve month high of $103.84. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $82.43 and a 200-day moving average of $81.88.
Mercury Systems (NASDAQ:MRCY – Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, equities research analysts expect that Mercury Systems Inc will post 0.18 EPS for the current year.
Insider Activity at Mercury Systems
In other news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This represents a 5.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 469,514 shares of company stock valued at $42,960,291 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
Mercury Systems Profile
Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.
Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.
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