Mercury Systems Inc $MRCY Shares Purchased by Algert Global LLC

Key Points

• Algert Global increased its Mercury Systems stake by 582.6% in the second quarter, bringing its holdings to 37,270 shares valued at approximately $4.56 million. Institutional investors and hedge funds collectively own 95.99% of the company.
• Analyst sentiment is mixed: Mercury Systems has a consensus rating of “Hold” with an average price target of $110.10, while recent targets range from $68 to $131.
• Mercury reported quarterly revenue of $289.78 million, exceeding estimates, but adjusted EPS of $0.37 fell short of consensus by $0.01. Insiders have sold 446,186 shares worth about $41.4 million over the past 90 days.

Algert Global LLC boosted its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 582.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,270 shares of the technology company's stock after purchasing an additional 31,810 shares during the quarter. Algert Global LLC owned approximately 0.06% of Mercury Systems worth $4,559,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Mercury Systems in the 2nd quarter valued at about $1,146,342,000. State Street Corp grew its stake in Mercury Systems by 12.1% in the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company's stock worth $249,957,000 after purchasing an additional 368,242 shares in the last quarter. Invesco Ltd. increased its holdings in Mercury Systems by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company's stock valued at $139,503,000 after buying an additional 383,299 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Mercury Systems by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company's stock valued at $112,644,000 after buying an additional 21,182 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company's stock valued at $99,940,000 after buying an additional 47,174 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on MRCY. Royal Bank Of Canada lifted their target price on Mercury Systems from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft cut Mercury Systems to a "hold" rating in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a research note on Monday, May 11th. Finally, Piper Sandler reissued an "overweight" rating and set a $131.00 target price (up from $126.00) on shares of Mercury Systems in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $110.10.

Mercury Systems Stock Up 0.8%

Shares of Mercury Systems stock opened at $90.47 on Friday. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -180.94 and a beta of 0.95. Mercury Systems Inc has a twelve month low of $65.04 and a twelve month high of $128.45. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The business's 50 day simple moving average is $105.53 and its 200-day simple moving average is $95.00.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Mercury Systems Inc will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In other Mercury Systems news, EVP David E. Farnsworth sold 6,612 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $97.67, for a total transaction of $645,794.04. Following the completion of the transaction, the executive vice president directly owned 117,967 shares of the company's stock, valued at $11,521,836.89. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Steven Ratner sold 356 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $91.36, for a total transaction of $32,524.16. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 446,186 shares of company stock worth $41,432,610. 1.40% of the stock is owned by company insiders.

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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