Mercury Systems Inc $MRCY Stock Position Decreased by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Mercury Systems Inc by 62.9%, holding 56,234 shares valued at approximately $2.42 million.
• Mercury Systems recently reported a 9.9% increase in quarterly revenue year-over-year, totaling $273.11 million, and earnings per share (EPS) of $0.47, exceeding analysts' expectations.
• Major institutional investors, including Wells Fargo and Barclays, have recently increased their positions in Mercury Systems, indicating strong institutional interest in the stock.

Deutsche Bank AG lowered its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 62.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,234 shares of the technology company's stock after selling 95,242 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Mercury Systems worth $2,423,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Mercury Systems by 8.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company's stock valued at $288,000 after purchasing an additional 517 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Mercury Systems by 5.1% in the 4th quarter. Rafferty Asset Management LLC now owns 12,977 shares of the technology company's stock valued at $545,000 after purchasing an additional 632 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Mercury Systems by 43.0% in the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock valued at $107,000 after purchasing an additional 749 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Stock Down 0.5%

Mercury Systems stock traded down $0.34 during midday trading on Tuesday, hitting $67.64. 474,210 shares of the stock were exchanged, compared to its average volume of 816,700. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $69.95. The firm has a market cap of $4.05 billion, a P/E ratio of -102.48, a P/E/G ratio of 2.79 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The company has a 50 day moving average price of $55.23 and a two-hundred day moving average price of $49.66.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company's revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, sell-side analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William L. Ballhaus sold 13,050 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the sale, the chief executive officer owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David E. Farnsworth sold 7,572 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the completion of the sale, the executive vice president directly owned 161,326 shares of the company's stock, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 850,752 shares of company stock worth $55,622,679. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MRCY. Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. Robert W. Baird lifted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Truist Financial lifted their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Mercury Systems has an average rating of "Moderate Buy" and a consensus price target of $60.71.

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.