Bessemer Group Inc. Has $29.17 Million Stock Holdings in Mercury Systems Inc $MRCY

Key Points

• Bessemer Group Inc. boosted its stake in Mercury Systems by 45.6% in the fourth quarter, holding 399,496 shares worth about $29.17 million at quarter-end.
• Institutional ownership remains heavy, with several large funds including Vanguard, State Street, First Trust, and Invesco also increasing their positions; 95.99% of the stock is held by institutions and hedge funds.
• Mercury Systems posted stronger-than-expected quarterly results, with EPS of $0.27 and revenue of $235.76 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $89.89.

Bessemer Group Inc. increased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 45.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 399,496 shares of the technology company's stock after buying an additional 125,194 shares during the period. Bessemer Group Inc. owned about 0.66% of Mercury Systems worth $29,168,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Mercury Systems by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company's stock worth $443,582,000 after buying an additional 221,093 shares during the period. State Street Corp boosted its holdings in Mercury Systems by 8.7% in the second quarter. State Street Corp now owns 3,246,573 shares of the technology company's stock valued at $174,860,000 after acquiring an additional 259,388 shares during the last quarter. First Trust Advisors LP boosted its holdings in Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company's stock valued at $118,640,000 after acquiring an additional 751,813 shares during the last quarter. Invesco Ltd. boosted its holdings in Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company's stock valued at $118,224,000 after acquiring an additional 943,736 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in Mercury Systems by 4.9% in the third quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company's stock valued at $100,255,000 after acquiring an additional 60,483 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MRCY shares. Jefferies Financial Group restated a "hold" rating and set a $95.00 price target on shares of Mercury Systems in a report on Sunday, May 10th. Truist Financial upgraded shares of Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Canaccord Genuity Group raised their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Royal Bank Of Canada restated an "outperform" rating and set a $105.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Finally, The Goldman Sachs Group raised their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Mercury Systems currently has an average rating of "Moderate Buy" and a consensus price target of $89.89.

Insider Activity at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 100,899 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the completion of the sale, the director owned 4,114,618 shares of the company's stock, valued at $368,998,942.24. This trade represents a 2.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director directly owned 52,448 shares of the company's stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 472,383 shares of company stock worth $43,200,024. Corporate insiders own 1.40% of the company's stock.

Mercury Systems Trading Down 2.7%

Shares of MRCY stock opened at $92.03 on Friday. The company has a market cap of $5.53 billion, a P/E ratio of -383.46, a PEG ratio of 8.91 and a beta of 0.83. The stock has a 50 day simple moving average of $81.58 and a two-hundred day simple moving average of $81.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a fifty-two week low of $44.01 and a fifty-two week high of $103.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Research analysts forecast that Mercury Systems Inc will post 0.18 earnings per share for the current year.

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.

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