Russell Investments Group Ltd. Purchases 25,184 Shares of Mercury Systems Inc $MRCY

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 stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 160.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,842 shares of the technology company's stock after purchasing an additional 25,184 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Mercury Systems worth $1,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Mercury Systems by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company's stock valued at $11,848,000 after acquiring an additional 29,074 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Mercury Systems during the fourth quarter valued at about $241,000. Calamos Advisors LLC purchased a new position in Mercury Systems during the first quarter worth about $848,000. GAMMA Investing LLC boosted its holdings in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after purchasing an additional 44,926 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in Mercury Systems in the 1st quarter worth about $2,562,000. Institutional investors own 95.99% of the company's stock.

Insiders Place Their Bets

In other Mercury Systems news, Director Jana Partners Management, Lp sold 797,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the sale, the director owned 5,964,313 shares of the company's stock, valued at $390,185,356.46. The trade was a 11.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stuart Kupinsky sold 1,220 shares of Mercury Systems 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 completion of the transaction, the executive vice president owned 70,297 shares of the company's stock, valued at approximately $4,531,344.62. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 850,752 shares of company stock worth $55,622,679 in the last three months. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird upped their target price on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. The Goldman Sachs Group upped their price objective on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped 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. Finally, Truist Financial upped 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. 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.71.

Mercury Systems Stock Performance

Mercury Systems stock traded down $0.95 during midday trading on Friday, reaching $67.55. The stock had a trading volume of 305,785 shares, compared to its average volume of 812,367. The firm has a market capitalization of $4.05 billion, a PE ratio of -102.35, a P/E/G ratio of 2.82 and a beta of 0.72. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $69.95. 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's 50-day moving average price is $56.24 and its 200 day moving average price is $50.08.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its 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 firm had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $0.23 earnings per share. As a group, research analysts predict that Mercury Systems Inc will post -0.08 earnings per share 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.