Envestnet Asset Management Inc. raised its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 56.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,283 shares of the technology company's stock after acquiring an additional 5,545 shares during the period. Envestnet Asset Management Inc.'s holdings in Mercury Systems were worth $659,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MRCY. LPL Financial LLC increased its holdings in shares of Mercury Systems by 11.4% during the fourth quarter. LPL Financial LLC now owns 52,746 shares of the technology company's stock worth $2,261,000 after buying an additional 5,388 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Mercury Systems by 217.2% in the fourth quarter. JPMorgan Chase & Co. now owns 146,624 shares of the technology company's stock valued at $6,158,000 after purchasing an additional 100,404 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Mercury Systems by 12.7% in the fourth quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company's stock valued at $1,877,000 after purchasing an additional 5,038 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Mercury Systems by 156,480.0% in the fourth quarter. Russell Investments Group Ltd. now owns 15,658 shares of the technology company's stock valued at $658,000 after purchasing an additional 15,648 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Mercury Systems by 5.0% during the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock worth $461,000 after acquiring an additional 519 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the sale, the executive vice president owned 56,187 shares of the company's stock, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director directly owned 6,861,313 shares in the company, valued at $317,472,952.51. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,883 shares of company stock worth $4,362,791. 1.60% of the stock is owned by insiders.
Mercury Systems Price Performance
NASDAQ:MRCY traded down $0.31 on Wednesday, hitting $53.93. The company had a trading volume of 409,438 shares, compared to its average volume of 584,449. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $55.40. The firm has a 50 day moving average of $51.66 and a two-hundred day moving average of $47.57. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -48.15, a PEG ratio of 2.51 and a beta of 0.72.
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 the consensus estimate of $0.06. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The firm had revenue of $211.36 million during the quarter, compared to analysts' expectations of $204.25 million. During the same period in the prior year, the company posted ($0.26) EPS. The company's revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
MRCY has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research report on Monday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 3rd. Truist Financial boosted their price objective on shares of Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $50.29.
Check Out Our Latest Report on Mercury Systems
About Mercury Systems
(
Free Report)
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.
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