Mercury Systems Inc $MRCY is JANA Partners Management LP's Largest Position

Key Points

• JANA Partners remains Mercury Systems’ largest shareholder position, holding 4.11 million shares worth approximately $299.5 million after reducing its stake by 17.2% in the first quarter. The stock represents 18% of JANA’s portfolio and about 6.84% of Mercury’s shares.
• Other institutional investors generally increased their positions, including Goldman Sachs, UBS, Jane Street and JPMorgan, while institutional investors collectively own 95.99% of Mercury Systems. However, company insiders sold 18,250 shares worth about $1.73 million over the past 90 days.
• Analyst sentiment is moderately positive, with MarketBeat reporting an average rating of “Moderate Buy” and a $95.78 price target. Mercury exceeded quarterly earnings and revenue expectations, reporting $0.27 EPS and $235.76 million in revenue, up 11.5% year over year.

JANA Partners Management LP lowered its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,107,424 shares of the technology company's stock after selling 852,057 shares during the period. Mercury Systems makes up 18.0% of JANA Partners Management LP's portfolio, making the stock its biggest position. JANA Partners Management LP owned about 6.84% of Mercury Systems worth $299,472,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in shares of Mercury Systems during the first quarter valued at approximately $755,000. Goldman Sachs Group Inc. lifted its stake in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after purchasing an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company's stock valued at $6,878,000 after buying an additional 18,916 shares during the period. Jane Street Group LLC boosted its stake in Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company's stock valued at $2,188,000 after acquiring an additional 31,337 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Mercury Systems by 30.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company's stock valued at $6,731,000 after purchasing an additional 29,057 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Insiders Place Their Bets

In other Mercury Systems news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares of the company's stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,250 shares of company stock worth $1,733,220 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several recent analyst reports. Jefferies Financial Group restated a "hold" rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday, July 10th. Canaccord Genuity Group upped their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, May 7th. The Goldman Sachs Group raised their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a research note on Monday, May 11th. Truist Financial raised shares of Mercury Systems to a "strong-buy" rating in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mercury Systems in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $95.78.

Mercury Systems Price Performance

Shares of MRCY stock opened at $97.10 on Monday. The firm has a market cap of $5.83 billion, a PE ratio of -404.58 and a beta of 0.95. Mercury Systems Inc has a 12 month low of $50.13 and a 12 month high of $128.45. The stock has a 50 day moving average of $108.47 and a 200-day moving average of $94.08. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (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 company had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same period last year, the business posted $0.06 EPS. The business's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Mercury Systems Inc will post 0.33 EPS for the current 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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