Mercury Systems, Inc. (NASDAQ:MRCY) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 392,358 shares of the technology company's stock after buying an additional 46,688 shares during the period. Ameriprise Financial Inc. owned approximately 0.66% of Mercury Systems worth $16,479,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRCY. Sterling Capital Management LLC increased its position in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock worth $69,000 after purchasing an additional 1,449 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Mercury Systems by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company's stock worth $10,327,000 after acquiring an additional 7,512 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after acquiring an additional 294,747 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after acquiring an additional 41,324 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Mercury Systems by 35.1% in the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company's stock valued at $12,479,000 after purchasing an additional 77,254 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 3,892 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now directly owns 56,187 shares in the company, valued at $2,680,119.90. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the transaction, the director now directly owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Truist Financial raised Mercury Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $49.00 to $56.00 in a research report on Thursday, March 13th. Robert W. Baird upgraded Mercury Systems from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $37.00 to $58.00 in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada increased their price objective on Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $46.71.

Mercury Systems Stock Performance

MRCY traded up $0.46 during midday trading on Thursday, hitting $47.36. 43,224 shares of the company were exchanged, compared to its average volume of 577,490. The company's 50 day simple moving average is $46.57 and its 200 day simple moving average is $43.53. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -30.29 and a beta of 0.70. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The firm had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. During the same period last year, the company earned ($0.26) earnings per share. Mercury Systems's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.