Rhumbline Advisers Sells 6,755 Shares of Mercury Systems Inc $MRCY

Key Points

• Rhumbline Advisers decreased its holdings in Mercury Systems Inc by 4.2%, now owning approximately 154,740 shares valued at $6.67 million.
• Mercury Systems received several upgrades from analysts, with Raymond James raising its rating to strong-buy and increasing the price target to $80.
• In the most recent earnings report, Mercury Systems beat estimates with $0.47 EPS on revenues of $273.11 million, reflecting a 9.9% increase year-over-year.

Rhumbline Advisers lowered its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,740 shares of the technology company's stock after selling 6,755 shares during the period. Rhumbline Advisers owned 0.26% of Mercury Systems worth $6,668,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings 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 buying an additional 395 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Mercury Systems by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company's stock worth $507,000 after purchasing an additional 449 shares during the last quarter. Fifth Third Bancorp raised its position 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 last quarter. Rafferty Asset Management LLC raised its position in shares of Mercury Systems by 5.1% in the 4th quarter. Rafferty Asset Management LLC now owns 12,977 shares of the technology company's stock worth $545,000 after purchasing an additional 632 shares during the last quarter. Finally, US Bancorp DE raised its position 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 last quarter. Institutional investors own 95.99% of the company's stock.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the sale, the director owned 5,964,313 shares in the company, valued at $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $488,091.12. Following the transaction, 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 a total of 848,980 shares of company stock worth $55,529,247 in the last ninety days. Corporate insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

MRCY stock traded up $2.42 during midday trading on Thursday, hitting $76.24. The company's stock had a trading volume of 259,932 shares, compared to its average volume of 609,062. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $76.38. 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 firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of -115.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.77. The company has a 50 day moving average of $61.14 and a two-hundred day moving average of $52.45.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.26. The business had revenue of $273.11 million during 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 firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. On average, analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on MRCY. Royal Bank Of Canada lifted their price target on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. Raymond James Financial raised 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 report on Tuesday, August 12th. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. The Goldman Sachs Group boosted their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research report on Wednesday, August 13th. Finally, 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 report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems presently has a consensus 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.