Mercury Systems Inc $MRCY Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Mercury Systems Inc by 160.8%, acquiring an additional 25,184 shares in the first quarter, bringing its total ownership to approximately 40,842 shares valued at $1.76 million.
• The company reported a strong quarterly performance with earnings per share of $0.47, surpassing estimates, and revenue of $273.11 million, reflecting a 9.9% year-over-year increase.
• Several financial institutions raised their price targets on Mercury Systems shares, with Truist Financial setting a new target of $71.00 and Raymond James increasing theirs to $80.00.

Russell Investments Group Ltd. raised its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 160.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,842 shares of the technology company's stock after purchasing an additional 25,184 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Mercury Systems worth $1,760,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the fourth quarter valued at about $33,000. GAMMA Investing LLC grew its stake in 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 acquiring an additional 395 shares in the last quarter. Fifth Third Bancorp raised its holdings in Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. Nkcfo LLC acquired a new stake in Mercury Systems in the 1st quarter valued at about $72,000. Finally, US Bancorp DE lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MRCY shares. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, August 21st. The Goldman Sachs Group boosted their price objective on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. Truist Financial upped their target price on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 3rd. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.71.

Mercury Systems Trading Down 1.4%

MRCY traded down $0.95 on Monday, hitting $67.55. The company had a trading volume of 305,785 shares, compared to its average volume of 804,469. The company's fifty day moving average price is $56.55 and its 200 day moving average price is $50.30. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $69.95. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The firm has a market cap of $4.05 billion, a P/E ratio of -102.35, a PEG ratio of 2.78 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share 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 during the quarter, compared to analysts' expectations of $244.56 million. During the same period last year, the business earned $0.23 earnings per share. The business's revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Stuart Kupinsky sold 1,220 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $78,641.20. Following the sale, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Insiders have sold 850,752 shares of company stock valued at $55,622,679 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.