Mercury Systems Inc $MRCY Stake Lessened by Victory Capital Management Inc.

Key Points

• Victory Capital Management cut its stake in Mercury Systems by 57.4% in Q3, selling 1,010,980 shares and now holds 750,321 shares (~1.25% ownership) valued at about $58.1 million.
• Insiders have been sizable net sellers—859,758 shares sold in the last three months (≈$74.48 million)—leaving insiders with 1.40% ownership while institutional investors own about 95.99% of the company.
• Mercury beat the quarter with $0.16 EPS vs. $0.07 expected and $232.9M in revenue, but still shows a negative net margin and carries an average analyst rating of "Hold" with a price target near $86.89.

Victory Capital Management Inc. lessened its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 57.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 750,321 shares of the technology company's stock after selling 1,010,980 shares during the period. Victory Capital Management Inc. owned about 1.25% of Mercury Systems worth $58,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fisher Asset Management LLC lifted its stake in Mercury Systems by 21.3% in the 3rd quarter. Fisher Asset Management LLC now owns 875,279 shares of the technology company's stock worth $67,747,000 after acquiring an additional 153,946 shares in the last quarter. Journey Strategic Wealth LLC purchased a new position in Mercury Systems during the 3rd quarter valued at about $236,000. MGB Wealth Management LLC acquired a new position in shares of Mercury Systems in the 3rd quarter valued at about $224,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Mercury Systems by 5.2% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,963 shares of the technology company's stock worth $849,000 after purchasing an additional 544 shares in the last quarter. Finally, Optiver Holding B.V. lifted its position in shares of Mercury Systems by 1,670.5% in the third quarter. Optiver Holding B.V. now owns 3,063 shares of the technology company's stock worth $237,000 after purchasing an additional 2,890 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 100,899 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the transaction, the director directly owned 4,114,618 shares of the company's stock, valued at $368,998,942.24. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stuart Kupinsky sold 2,287 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total value of $191,101.72. Following the transaction, the executive vice president owned 68,010 shares in the company, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 859,758 shares of company stock valued at $74,481,931. Company insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

Shares of MRCY opened at $86.42 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The firm has a market cap of $5.19 billion, a PE ratio of -163.06, a PEG ratio of 8.23 and a beta of 0.77. The firm's 50 day moving average price is $89.04 and its 200 day moving average price is $78.70. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84.

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

Analyst Upgrades and Downgrades

MRCY has been the subject of several research reports. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a "sell" rating in a report on Tuesday, January 20th. Jefferies Financial Group reiterated a "hold" rating and issued a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Truist Financial boosted their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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.

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