Mercury Systems Inc $MRCY Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 48.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,580 shares of the technology company’s stock after selling 7,240 shares during the period. Maryland State Retirement & Pension System’s holdings in Mercury Systems were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in Mercury Systems during the 3rd quarter valued at approximately $32,000. Osaic Holdings Inc. increased its holdings 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 valued at $32,000 after purchasing an additional 208 shares during the period. Quaker Wealth Management LLC raised its stake in shares of Mercury Systems by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,288 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Mercury Systems during the second quarter worth $43,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Trading Down 0.1%

Shares of Mercury Systems stock opened at $99.48 on Friday. The company has a 50-day moving average of $77.98 and a two-hundred day moving average of $71.39. Mercury Systems Inc has a 12-month low of $39.42 and a 12-month high of $103.84. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40. The stock has a market cap of $5.98 billion, a PE ratio of -174.53, a price-to-earnings-growth ratio of 4.41 and a beta of 0.78.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.08 by $0.18. The business had revenue of $225.21 million for the quarter, compared to analyst estimates of $207.28 million. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. On average, research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday. Royal Bank Of Canada set a $95.00 price target on shares of Mercury Systems and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Truist Financial set a $102.00 price objective on shares of Mercury Systems in a research report on Friday, January 9th. Canaccord Genuity Group began coverage on Mercury Systems in a report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.25.

Insiders Place Their Bets

In other news, Director Debora A. Plunkett sold 1,700 shares of Mercury Systems stock in a transaction on Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the completion of the transaction, the director owned 16,833 shares of the company’s stock, valued at $1,245,473.67. The trade was a 9.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the completion of the sale, the director owned 4,966,675 shares in the company, valued at $374,735,628.75. This represents a 16.76% 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 1,003,029 shares of company stock worth $75,673,358. 1.40% of the stock is 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.