Mercury Systems Inc $MRCY Stock Purchased by Moody National Bank Trust Division

Moody National Bank Trust Division lifted its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,383 shares of the technology company’s stock after purchasing an additional 7,179 shares during the period. Moody National Bank Trust Division owned about 0.09% of Mercury Systems worth $4,431,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRCY. Cim Investment Management Inc. boosted its stake in shares of Mercury Systems by 7.4% during the 2nd quarter. Cim Investment Management Inc. now owns 9,589 shares of the technology company’s stock worth $1,173,000 after acquiring an additional 662 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Mercury Systems in the 2nd quarter worth $87,000. IFP Advisors Inc raised its holdings in Mercury Systems by 250.8% in the 2nd quarter. IFP Advisors Inc now owns 463 shares of the technology company’s stock worth $57,000 after purchasing an additional 331 shares during the period. Nykredit A S bought a new position in Mercury Systems in the 2nd quarter worth $265,000. Finally, Corient Private Wealth LP lifted its position in Mercury Systems by 92.4% during the second quarter. Corient Private Wealth LP now owns 11,338 shares of the technology company’s stock valued at $1,387,000 after purchasing an additional 5,446 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Buying and Selling at Mercury Systems

In other news, EVP David E. Farnsworth sold 8,155 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the sale, the executive vice president directly owned 124,579 shares in the company, valued at approximately $12,496,519.49. This represents a 6.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the completion of the transaction, the chief executive officer directly owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,186 shares of company stock valued at $41,857,170 in the last quarter. 0.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MRCY shares. Canaccord Genuity Group boosted their price objective on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Piper Sandler reaffirmed an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a report on Wednesday, August 19th. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Mercury Systems Price Performance

NASDAQ MRCY traded down $0.14 on Tuesday, reaching $82.80. The company had a trading volume of 547,570 shares, compared to its average volume of 678,037. The stock has a market capitalization of $5.04 billion, a PE ratio of -165.60 and a beta of 0.97. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45. 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 firm’s 50 day moving average price is $91.95 and its 200 day moving average price is $94.63.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. During the same period in the previous year, the company posted $0.47 earnings per share. Mercury Systems’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Mercury Systems Inc will post 0.91 earnings per share for the current year.

About Mercury Systems

Mercury Systems, Inc is a technology company that develops and manufactures mission-critical solutions for the aerospace and defense industries. Its products are designed to help customers process, secure and manage data in demanding environments, including aircraft, unmanned systems, radar platforms and other defense applications.

The company’s portfolio includes embedded computing systems, high-performance processors, ruggedized servers, trusted computing products, radio-frequency and microwave components, sensor-processing technologies, avionics solutions and mission displays.