First Trust Advisors LP Cuts Stock Position in Mercury Systems Inc $MRCY

First Trust Advisors LP trimmed its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 9.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,160,775 shares of the technology company's stock after selling 118,609 shares during the period. First Trust Advisors LP owned about 1.93% of Mercury Systems worth $84,632,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Signaturefd LLC increased its position in Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company's stock worth $59,000 after buying an additional 107 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Mercury Systems by 1.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company's stock worth $563,000 after acquiring an additional 134 shares during the last quarter. GAMMA Investing LLC raised its stake in Mercury Systems by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company's stock valued at $130,000 after acquiring an additional 181 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company's stock valued at $880,000 after acquiring an additional 187 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Mercury Systems by 1.3% during the fourth quarter. Arizona State Retirement System now owns 15,211 shares of the technology company's stock valued at $1,111,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Insider Activity

In other news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,250 shares of company stock valued at $1,733,220. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MRCY has been the subject of several analyst reports. Truist Financial raised shares of Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Zacks Research upgraded Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Jefferies Financial Group restated a "hold" rating and set a $115.00 price target on shares of Mercury Systems in a research report on Friday, July 10th. Wall Street Zen lowered Mercury Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, The Goldman Sachs Group raised their price target on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a report on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.78.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $103.27 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of -430.29 and a beta of 0.93. The business has a 50 day moving average of $108.26 and a 200 day moving average of $93.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. Mercury Systems Inc has a 1-year low of $50.13 and a 1-year high of $128.45.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same period last year, the firm posted $0.06 earnings per share. The business's revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Mercury Systems Inc will post 0.35 earnings per share for the current fiscal year.

Mercury Systems Company 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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