Mercury Systems Inc $MRCY Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Mercury Systems Inc by 49.1%, acquiring an additional 49,767 shares to reach a total of 151,151 shares valued at approximately $6.51 million.
• Institutional ownership of Mercury Systems is significant, with 95.99% of the stock held by institutional investors, including American Century Companies and Public Sector Pension Investment Board.
• Mercury Systems recently reported financial results showing $0.47 earnings per share, exceeding estimates, and a 9.9% increase in revenue year-over-year, totaling $273.11 million.

Raymond James Financial Inc. raised its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 49.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,151 shares of the technology company's stock after purchasing an additional 49,767 shares during the quarter. Raymond James Financial Inc. owned approximately 0.25% of Mercury Systems worth $6,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRCY. Neo Ivy Capital Management bought a new position in Mercury Systems in the 4th quarter worth about $33,000. GAMMA Investing LLC lifted its stake in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp lifted its stake in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after purchasing an additional 451 shares during the period. Nkcfo LLC bought a new position in shares of Mercury Systems in the 1st quarter worth approximately $72,000. Finally, US Bancorp DE lifted its stake in shares of Mercury Systems by 43.0% in the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock worth $107,000 after purchasing an additional 749 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded up $1.04 during midday trading on Friday, reaching $68.93. 377,739 shares of the stock were exchanged, compared to its average volume of 777,666. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of -104.44, a PEG ratio of 2.87 and a beta of 0.77. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $69.95. The firm has a 50-day simple moving average of $57.89 and a two-hundred day simple moving average of $50.92. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly 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 firm had revenue of $273.11 million for the quarter, compared to analysts' expectations of $244.56 million. During the same quarter last year, the company earned $0.23 EPS. The firm'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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRCY has been the topic of a number of recent analyst reports. Truist Financial raised their target price on shares of 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 report on Thursday, August 21st. Royal Bank Of Canada boosted their target price on Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 3rd. Robert W. Baird boosted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mercury Systems presently has a consensus rating of "Moderate Buy" and an average target price of $60.71.

Insider Activity

In related news, EVP David E. Farnsworth sold 7,572 shares of the business's stock in a transaction dated 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 approximately $10,399,073.96. The trade was a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the transaction, the chief executive officer directly owned 374,976 shares in the company, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 850,752 shares of company stock worth $55,622,679. Insiders own 1.60% of the company's stock.

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.