Wellington Management Group LLP grew its position in shares of Mercury Systems Inc (NASDAQ:MRCY – Free Report) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 775,502 shares of the technology company’s stock after acquiring an additional 19,977 shares during the quarter. Wellington Management Group LLP owned 1.29% of Mercury Systems worth $94,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in MRCY. BlackRock Inc. bought a new stake in Mercury Systems in the 2nd quarter worth about $1,146,342,000. Deutsche Bank AG bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $17,454,000. Rice Hall James & Associates LLC bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $4,866,000. Louisiana State Employees Retirement System purchased a new position in shares of Mercury Systems in the 1st quarter worth approximately $1,706,000. Finally, American Capital Management Inc. purchased a new position in shares of Mercury Systems in the 2nd quarter worth approximately $59,460,000. Institutional investors own 95.99% of the company’s stock.
Mercury Systems Price Performance
NASDAQ MRCY opened at $82.80 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.98 billion, a PE ratio of -165.60 and a beta of 0.98. Mercury Systems Inc has a 52 week low of $65.04 and a 52 week high of $128.45. The firm’s 50-day simple moving average is $103.97 and its two-hundred day simple moving average is $95.06.
Analyst Upgrades and Downgrades
MRCY has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Truist Financial boosted their price target on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada increased their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mercury Systems currently has an average rating of “Hold” and an average target price of $110.10.
View Our Latest Stock Report on Mercury Systems
Insider Buying and Selling at Mercury Systems
In other Mercury Systems news, CAO Douglas Munro sold 548 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $54,969.88. Following the sale, the chief accounting officer owned 13,091 shares of the company’s stock, valued at $1,313,158.21. The trade was a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Stuart Kupinsky sold 1,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $95.23, for a total value of $95,230.00. Following the sale, the executive vice president owned 56,352 shares in the company, valued at approximately $5,366,400.96. This represents a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 446,186 shares of company stock worth $41,432,610. Company insiders own 1.40% of the company’s stock.
Mercury Systems Company 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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