Fifth Third Bancorp Acquires 265,905 Shares of Mercury Systems Inc $MRCY

Fifth Third Bancorp raised its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 22,232.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 267,101 shares of the technology company’s stock after purchasing an additional 265,905 shares during the period. Fifth Third Bancorp’s holdings in Mercury Systems were worth $19,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Osaic Holdings Inc. raised its stake in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Mercury Systems during the fourth quarter valued at $35,000. Hollencrest Capital Management purchased a new stake in shares of Mercury Systems during the fourth quarter valued at $37,000. Federated Hermes Inc. bought a new stake in Mercury Systems in the 2nd quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after buying an additional 228 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MRCY. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday. Finally, Zacks Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Insider Buying and Selling

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director directly owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Insiders sold 21,875 shares of company stock valued at $2,040,874 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Trading Down 9.0%

Shares of NASDAQ:MRCY opened at $98.26 on Tuesday. The stock’s 50-day simple moving average is $106.64 and its two-hundred day simple moving average is $92.25. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of -409.42 and a beta of 0.93. Mercury Systems Inc has a 52-week low of $49.86 and a 52-week high of $128.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts expect that Mercury Systems Inc will post 0.3 EPS for the current year.

About Mercury Systems

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.