Vanguard Group Inc. Cuts Stock Holdings in Mercury Systems Inc $MRCY

Vanguard Group Inc. decreased its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 1.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,632,049 shares of the technology company’s stock after selling 98,984 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Mercury Systems worth $411,196,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of Mercury Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after buying an additional 195 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Mercury Systems by 6,562.5% during the fourth quarter. Peregrine Capital Management LLC now owns 142,178 shares of the technology company’s stock valued at $10,380,000 after buying an additional 140,044 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Mercury Systems by 5.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,307 shares of the technology company’s stock valued at $1,191,000 after buying an additional 775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Mercury Systems by 89.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,187 shares of the technology company’s stock valued at $1,547,000 after buying an additional 10,015 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Mercury Systems by 4.9% during the fourth quarter. CWM LLC now owns 8,039 shares of the technology company’s stock valued at $587,000 after buying an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity

In other news, Director Jana Partners Management, Lp sold 400,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the transaction, the director owned 4,566,675 shares of the company’s stock, valued at $369,900,675. This represents a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Douglas Munro sold 582 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total value of $48,631.92. Following the transaction, the chief accounting officer directly owned 14,328 shares in the company, valued at $1,197,247.68. This represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 863,383 shares of company stock worth $74,789,584. 1.40% of the stock is owned by company insiders.

Mercury Systems Stock Up 10.5%

MRCY stock opened at $91.66 on Thursday. The stock’s fifty day simple moving average is $81.27 and its two-hundred day simple moving average is $80.55. 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 1-year low of $44.01 and a 1-year high of $103.84. The stock has a market cap of $5.50 billion, a P/E ratio of -381.92, a P/E/G ratio of 8.04 and a beta of 0.83.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million for the quarter, compared to analysts’ expectations 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 0.18 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on MRCY shares. Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group cut their target price on Mercury Systems from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research report on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group boosted their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” 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.