State of Alaska Department of Revenue Acquires 8,365 Shares of Mercury Systems Inc $MRCY

State of Alaska Department of Revenue increased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,442 shares of the technology company’s stock after purchasing an additional 8,365 shares during the period. State of Alaska Department of Revenue’s holdings in Mercury Systems were worth $2,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRCY. AQR Capital Management LLC bought a new position in shares of Mercury Systems during the first quarter valued at approximately $755,000. Goldman Sachs Group Inc. boosted 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 purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Mercury Systems by 13.4% during the first 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 in the last quarter. Jane Street Group LLC boosted its stake in shares of Mercury Systems by 161.3% during the first 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Mercury Systems by 30.3% during the second 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 in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Insider Activity at Mercury Systems

In other news, CAO Douglas Munro sold 582 shares of Mercury Systems stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $48,631.92. Following the completion of the sale, the chief accounting officer directly owned 14,328 shares in the company, valued at approximately $1,197,247.68. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the sale, the director owned 4,114,618 shares of the company’s stock, valued at $368,998,942.24. The trade was a 2.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems Price Performance

NASDAQ MRCY opened at $84.91 on Friday. The firm’s fifty day simple moving average is $82.02 and its two-hundred day simple moving average is $80.42. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a 12-month low of $44.01 and a 12-month high of $103.84. The firm has a market capitalization of $5.10 billion, a P/E ratio of -160.21, a P/E/G ratio of 8.28 and a beta of 0.84.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The business had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same period in the previous year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MRCY shares. Jefferies Financial Group dropped their price objective on shares of Mercury Systems from $85.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Truist Financial lifted their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.33.

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.