Legal & General Group Plc Invests $15.45 Million in Mercury Systems Inc $MRCY

Legal & General Group Plc acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 126,258 shares of the technology company’s stock, valued at approximately $15,445,000. Legal & General Group Plc owned approximately 0.21% of Mercury Systems at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG acquired a new position in shares of Mercury Systems during the fourth quarter worth about $35,000. Hollencrest Capital Management bought a new position in shares of Mercury Systems during the fourth quarter worth about $37,000. Federated Hermes Inc. bought a new position in shares of Mercury Systems during the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. raised its position 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 valued at $48,000 after buying an additional 228 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Price Performance

MRCY stock opened at $88.54 on Monday. 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 business has a 50 day moving average price of $105.02 and a two-hundred day moving average price of $95.02. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -177.08 and a beta of 0.95. Mercury Systems Inc has a twelve month low of $65.04 and a twelve month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Analysts anticipate that Mercury Systems Inc will post 0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MRCY shares. Piper Sandler restated an “overweight” rating and issued a $131.00 target price (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Monday, July 13th. Royal Bank Of Canada increased their target price on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, Truist Financial raised their target price on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $110.10.

Insider Activity

In other Mercury Systems news, EVP David E. Farnsworth sold 6,612 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $97.67, for a total value of $645,794.04. Following the completion of the sale, the executive vice president owned 117,967 shares in the company, valued at $11,521,836.89. This trade represents a 5.31% decrease in their ownership of the stock. 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 Steven Ratner sold 356 shares of Mercury Systems stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $91.36, for a total transaction of $32,524.16. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 446,186 shares of company stock valued at $41,432,610. 1.40% of the stock is owned by corporate insiders.

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.