First Trust Advisors LP Has $118.64 Million Stock Position in Mercury Systems Inc $MRCY

Key Points

• First Trust Advisors LP increased its stake in Mercury Systems by 96.3% in Q3 to 1,532,822 shares worth $118.64 million, representing about 2.55% of the company.
• Company insiders have been net sellers, disposing of 859,758 shares valued at approximately $74.48 million over the past 90 days, including recent sales by CAO Douglas Munro and director Howard L. Lance.
• Mercury Systems beat the quarter with $0.16 EPS (vs. $0.07 est.) and $232.87M revenue (up 4.4% YoY), but still posts a negative net margin and carries a consensus analyst rating of "Hold" with an average price target of $86.89.

First Trust Advisors LP grew its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 96.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,532,822 shares of the technology company's stock after acquiring an additional 751,813 shares during the quarter. First Trust Advisors LP owned 2.55% of Mercury Systems worth $118,640,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new stake in Mercury Systems in the 3rd quarter worth about $254,000. Cresset Asset Management LLC acquired a new position in shares of Mercury Systems during the 3rd quarter worth approximately $1,862,000. Picton Mahoney Asset Management acquired a new position in shares of Mercury Systems during the 3rd quarter worth approximately $367,000. Fisher Asset Management LLC increased its holdings in shares of Mercury Systems by 21.3% during the third quarter. Fisher Asset Management LLC now owns 875,279 shares of the technology company's stock worth $67,747,000 after purchasing an additional 153,946 shares during the period. Finally, Journey Strategic Wealth LLC bought a new position in shares of Mercury Systems during the third quarter worth approximately $236,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mercury Systems news, CAO Douglas Munro sold 582 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the sale, the chief accounting officer owned 14,328 shares of the company's stock, valued at approximately $1,197,247.68. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 4,832 shares of Mercury Systems stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares in the company, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 859,758 shares of company stock valued at $74,481,931 over the last ninety days. Company insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $86.42 on Monday. The firm has a 50 day moving average of $89.04 and a 200-day moving average of $78.90. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $5.19 billion, a PE ratio of -163.06, a PEG ratio of 8.37 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. The business had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, equities research analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MRCY shares. Truist Financial boosted their price target on Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Royal Bank Of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $85.00 target price on shares of Mercury Systems in a report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Mercury Systems currently has a consensus rating of "Hold" and an average price target of $86.89.

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.

Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems Inc (NASDAQ:MRCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.