MetLife Investment Management LLC Acquires 461,449 Shares of Mercury Systems Inc $MRCY

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% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 492,638 shares of the technology company's stock after acquiring an additional 461,449 shares during the quarter. MetLife Investment Management LLC owned 0.82% of Mercury Systems worth $21,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its stake in shares of Mercury Systems by 8.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock worth $97,305,000 after buying an additional 185,369 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mercury Systems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after buying an additional 52,725 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after buying an additional 677,894 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Mercury Systems by 2.9% in the 4th quarter. Northern Trust Corp now owns 593,455 shares of the technology company's stock worth $24,925,000 after buying an additional 16,674 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Mercury Systems by 13.5% in the 4th quarter. Ameriprise Financial Inc. now owns 392,358 shares of the technology company's stock worth $16,479,000 after buying an additional 46,688 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP David E. Farnsworth sold 7,572 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $488,091.12. Following the sale, the executive vice president owned 161,326 shares of the company's stock, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the sale, the director directly owned 5,964,313 shares in the company, valued at $390,185,356.46. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 843,752 shares of company stock worth $55,176,359. Company insiders own 1.60% of the company's stock.

Mercury Systems Trading Up 1.8%

Shares of MRCY stock opened at $66.83 on Monday. The company's fifty day simple moving average is $54.55 and its two-hundred day simple moving average is $49.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $69.95. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -101.26, a PEG ratio of 2.75 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business had revenue of $273.11 million for the quarter, compared to analysts' expectations of $244.56 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts anticipate 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.

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