Jupiter Topco LLC Buys New Stake in Mercury Systems Inc $MRCY

Jupiter Topco LLC purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 34,273 shares of the technology company’s stock, valued at approximately $4,189,000. Jupiter Topco LLC owned approximately 0.06% of Mercury Systems at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MRCY. BlackRock Inc. acquired a new stake in shares of Mercury Systems during the second quarter worth about $1,146,342,000. Invesco Ltd. boosted its position in shares of Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Mercury Systems in the 2nd quarter valued at about $46,453,000. State Street Corp grew its stake in Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after buying an additional 368,242 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Mercury Systems during the 2nd quarter worth approximately $38,438,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Trading Down 5.2%

Shares of MRCY stock opened at $82.80 on Wednesday. The company has a market capitalization of $4.98 billion, a P/E ratio of -165.60 and a beta of 0.98. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $103.97 and its two-hundred day moving average is $95.06. Mercury Systems Inc has a twelve month low of $65.04 and a twelve month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company had revenue of $289.78 million for the quarter, compared to analysts’ expectations of $266.09 million. During the same quarter last year, the company earned $0.47 EPS. Mercury Systems’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Mercury Systems Inc will post 0.88 EPS for the current year.

Insider Buying and Selling

In related news, CAO Douglas Munro sold 548 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total value of $54,969.88. Following the completion of the sale, the chief accounting officer owned 13,091 shares in the company, valued at $1,313,158.21. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David E. Farnsworth sold 6,612 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $97.67, for a total value of $645,794.04. Following the transaction, the executive vice president owned 117,967 shares in the company, valued at $11,521,836.89. The trade was a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 446,186 shares of company stock worth $41,432,610. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Piper Sandler reiterated an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Finally, Zacks Research lowered shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One equities research 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 given a Sell rating to the company. According to MarketBeat, Mercury Systems has a consensus rating of “Hold” and a consensus price target of $110.10.

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.