Mercury Systems Inc $MRCY Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets sharply increased its Mercury Systems stake by 777.3% in the fourth quarter, ending with 164,463 shares worth about $12.0 million.
• Mercury Systems recently posted better-than-expected quarterly results, with EPS of $0.27 versus the $0.06 estimate and revenue of $235.76 million, up 11.5% year over year.
• Despite the earnings beat, insider selling has continued, and Wall Street remains mixed on the stock with an average rating of Moderate Buy and a consensus price target of $91.00.

BNP Paribas Financial Markets increased its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 777.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,463 shares of the technology company's stock after acquiring an additional 145,717 shares during the period. BNP Paribas Financial Markets owned about 0.27% of Mercury Systems worth $12,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Leonteq Securities AG purchased a new position in shares of Mercury Systems in the 4th quarter valued at about $35,000. AlphaQuest LLC increased its stake in 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 buying an additional 168 shares in the last quarter. Osaic Holdings Inc. increased its stake in 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 buying an additional 208 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, Signaturefd LLC increased its stake in Mercury Systems by 15.4% during the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company's stock worth $59,000 after buying an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Wall Street Analyst Weigh In

MRCY has been the subject of several research reports. The Goldman Sachs Group boosted 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. Jefferies Financial Group reiterated a "hold" rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group upped their price target on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the transaction, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the sale, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 21,875 shares of company stock valued at $2,040,874 over the last three months. 1.40% of the stock is currently owned by company insiders.

Mercury Systems Stock Performance

MRCY opened at $111.27 on Monday. Mercury Systems Inc has a one year low of $48.75 and a one year high of $118.57. The stock has a market capitalization of $6.68 billion, a PE ratio of -463.63 and a beta of 0.94. The business's 50 day moving average price is $88.28 and its 200 day moving average price is $84.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company had revenue of $235.76 million for the quarter, compared to analysts' expectations of $208.56 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm's revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Mercury Systems Inc will post 0.18 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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