Jennison Associates LLC Decreases Stock Holdings in Mercury Systems Inc $MRCY

Key Points

• Jennison Associates LLC reduced its stake in Mercury Systems by 16.1% in Q4, selling 86,440 shares and leaving 449,967 shares valued at about $32.85 million (≈0.75% of the company).
• Insider selling has been significant: Jana Partners sold 100,899 shares (~$9.05M) and insiders sold 863,383 shares worth $74.79M in the last 90 days, while institutional ownership is roughly 95.99%.
• Operational and market snapshot: Mercury beat quarterly revenue ($232.9M) and EPS ($0.16) estimates but still reported a negative net margin; the stock trades near $78.55 and the analyst consensus is a "Hold" with a $86.33 price target.

Jennison Associates LLC reduced its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,967 shares of the technology company's stock after selling 86,440 shares during the quarter. Jennison Associates LLC owned approximately 0.75% of Mercury Systems worth $32,852,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MRCY. Osaic Holdings Inc. lifted its stake in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems during the 3rd quarter worth $32,000. Federated Hermes Inc. purchased a new stake in shares of Mercury Systems during the 2nd quarter worth $43,000. AlphaQuest LLC lifted its stake in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock worth $44,000 after purchasing an additional 168 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after purchasing an additional 234 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 100,899 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total value of $9,048,622.32. Following the completion of the transaction, the director directly owned 4,114,618 shares in the company, valued at $368,998,942.24. This trade represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Howard L. Lance sold 4,832 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was 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 of the company's stock, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 863,383 shares of company stock valued at $74,789,584 in the last 90 days. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MRCY. 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. The Goldman Sachs Group upped their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a "sell" rating in a research note on Tuesday, January 20th. Truist Financial upped their price objective on Mercury Systems from $102.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $86.33.

Mercury Systems Trading Down 0.5%

Mercury Systems stock opened at $78.55 on Friday. The stock has a 50-day moving average of $81.25 and a two-hundred day moving average of $80.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. Mercury Systems Inc has a one year low of $44.01 and a one year high of $103.84. The stock has a market cap of $4.71 billion, a PE ratio of -148.21, a price-to-earnings-growth ratio of 7.64 and a beta of 0.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million during the quarter, compared to analysts' expectations of $209.96 million. During the same period last year, the business posted $0.07 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

About Mercury Systems

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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