BNP Paribas Financial Markets Reduces Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

BNP Paribas Financial Markets lowered its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,480 shares of the technology company's stock after selling 13,106 shares during the period. BNP Paribas Financial Markets owned about 0.06% of Mercury Systems worth $1,448,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mercury Systems during the fourth quarter worth about $75,000. KBC Group NV lifted its stake in Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company's stock worth $105,000 after purchasing an additional 825 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mercury Systems by 52.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company's stock worth $189,000 after purchasing an additional 1,549 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Mercury Systems in the 4th quarter valued at about $204,000. Institutional investors own 95.99% of the company's stock.

Mercury Systems Trading Up 0.6%

NASDAQ:MRCY traded up $0.29 during mid-day trading on Friday, reaching $47.20. 320,171 shares of the company's stock traded hands, compared to its average volume of 580,238. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $52.25. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -30.26 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The company has a 50 day moving average price of $46.61 and a 200-day moving average price of $43.73.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

Mercury Systems Profile

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.