MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 91,930 Shares of Mercury Systems Inc $MRCY

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Mercury Systems Inc by 52.5%, owning 266,901 shares valued at $11,501,000 after purchasing an additional 91,930 shares during the first quarter.
• Multiple institutional investors, including Principal Financial Group Inc. and GAMMA Investing LLC, have also raised their stakes in Mercury Systems, with hedge funds collectively holding 95.99% of the company's stock.
• Analysts have been optimistic about Mercury Systems, with firms like Raymond James upgrading to a "strong-buy" rating and raising price targets up to $80.00, while the stock's average target price is now $60.71.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,901 shares of the technology company's stock after buying an additional 91,930 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.45% of Mercury Systems worth $11,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in shares of Mercury Systems during the 4th quarter valued at $33,000. GAMMA Investing LLC raised its stake in shares of Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp raised its stake in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the period. Nkcfo LLC bought a new stake in shares of Mercury Systems during the 1st quarter valued at $72,000. Finally, US Bancorp DE raised its stake in shares of Mercury Systems by 43.0% during the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock valued at $107,000 after purchasing an additional 749 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Insider Activity at Mercury Systems

In other news, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the transaction, the chief executive officer owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven Ratner sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $63.76, for a total value of $446,320.00. Following the completion of the transaction, the executive vice president directly owned 33,801 shares of the company's stock, valued at $2,155,151.76. This represents a 17.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 850,752 shares of company stock worth $55,622,679 over the last three months. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their price objective on Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday, August 12th. Truist Financial boosted their price objective on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group upped their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded Mercury Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Mercury Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.71.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded down $0.84 during trading on Friday, hitting $72.24. 639,069 shares of the stock traded hands, compared to its average volume of 513,390. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -109.45, a PEG ratio of 3.04 and a beta of 0.77. The firm's fifty day moving average is $59.83 and its 200-day moving average is $51.89. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $74.00.

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 for the quarter, beating the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million during the quarter, compared to analysts' expectations of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.Mercury Systems's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Mercury Systems 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.