Mercury Systems Inc $MRCY Shares Bought by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC acquired an additional 461,449 shares of Mercury Systems, increasing its ownership in the company to 492,638 shares, valued at approximately $21.2 million.
• Mercury Systems recently reported earnings of $0.47 per share, significantly exceeding estimates, with revenue increasing by 9.9% year-over-year to $273.11 million.
• Several analysts have upgraded their ratings and target prices for Mercury Systems, with current averages reflecting a "Moderate Buy" rating and target prices nearing $60.71.

MetLife Investment Management LLC boosted its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 1,479.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 492,638 shares of the technology company's stock after purchasing an additional 461,449 shares during the quarter. MetLife Investment Management LLC owned approximately 0.82% of Mercury Systems worth $21,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Mercury Systems by 11.8% in the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company's stock valued at $11,848,000 after purchasing an additional 29,074 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Mercury Systems during the fourth quarter worth about $241,000. Calamos Advisors LLC acquired a new stake in Mercury Systems during the first quarter worth about $848,000. GAMMA Investing LLC increased its stake in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after acquiring an additional 44,926 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Mercury Systems during the first quarter worth about $2,562,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares of the company's stock, valued at $24,170,952.96. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $488,091.12. Following the sale, the executive vice president directly owned 161,326 shares in the company, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 850,752 shares of company stock worth $55,622,679 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Robert W. Baird upped their price target on Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Truist Financial upped their price target on Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada upped their price target on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 3rd. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Raymond James Financial upgraded Mercury Systems from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $55.00 to $80.00 in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems presently has an average rating of "Moderate Buy" and an average price target of $60.71.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded down $0.95 during mid-day trading on Friday, hitting $67.55. The company had a trading volume of 305,785 shares, compared to its average volume of 812,367. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of -102.35, a PEG ratio of 2.78 and a beta of 0.72. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $69.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The firm's 50 day simple moving average is $56.24 and its two-hundred day simple moving average is $50.11.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.26. The business had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The business's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, equities research analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.