Nuveen LLC Makes New $8.75 Million Investment in Mercury Systems Inc $MRCY

Key Points

• Nuveen LLC has acquired a new stake in Mercury Systems Inc, buying 203,095 shares valued at approximately $8.75 million, representing about 0.34% of the company's stock.
• Multiple institutional investors have increased their holdings in Mercury Systems, leading to a total of 95.99% of the stock being owned by institutional investors.
• Equity analysts are optimistic about Mercury Systems, with several raising their price targets significantly and issuing mostly strong buy and buy ratings based on recent positive earnings reports.

Nuveen LLC purchased a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 203,095 shares of the technology company's stock, valued at approximately $8,751,000. Nuveen LLC owned 0.34% of Mercury Systems as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRCY. Wells Fargo & Company MN increased its holdings in shares of Mercury Systems by 12.7% during the fourth quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company's stock valued at $1,877,000 after acquiring an additional 5,038 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $4,258,000. Canada Pension Plan Investment Board bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $323,000. Dimensional Fund Advisors LP increased its holdings in shares of Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after acquiring an additional 52,725 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $460,000. Institutional investors own 95.99% of the company's stock.

Insider Activity

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the transaction, the director owned 5,964,313 shares of the company's stock, valued at $390,185,356.46. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart Kupinsky sold 1,220 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $78,641.20. Following the transaction, the executive vice president directly owned 70,297 shares in the company, valued at $4,531,344.62. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 850,752 shares of company stock worth $55,622,679. 1.60% of the stock is owned by company insiders.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded down $0.95 during trading on Friday, reaching $67.55. 305,785 shares of the stock traded hands, compared to its average volume of 812,367. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week 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 company has a 50-day moving average of $56.24 and a 200-day moving average of $50.08. The stock has a market capitalization of $4.05 billion, a P/E ratio of -102.35, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The firm had revenue of $273.11 million for the quarter, compared to analysts' expectations of $244.56 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on MRCY. Raymond James Financial upgraded Mercury Systems from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $55.00 to $80.00 in a report 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 report on Tuesday, August 12th. Royal Bank Of Canada boosted their price objective on Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a report on Thursday, July 3rd. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. upped their price target on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" 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 given a Sell rating to the company. According to data from MarketBeat.com, Mercury Systems presently has an average rating of "Moderate Buy" and a consensus target price of $60.71.

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.