Swedbank AB Boosts Stake in Mercury Systems Inc $MRCY

Key Points

• Swedbank AB boosted its stake in Mercury Systems by 722.1% in Q4, ending with 38,349 shares worth about $2.8 million.
• Mercury Systems recently reported better-than-expected earnings, posting $0.27 EPS versus the $0.06 consensus and revenue of $235.76 million, up 11.5% year over year.
• Analyst sentiment is mixed but leans positive overall, with a consensus rating of Moderate Buy and an average price target of $88.44; meanwhile, several insiders have sold shares in recent months.

Swedbank AB raised its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 722.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,349 shares of the technology company's stock after acquiring an additional 33,684 shares during the period. Swedbank AB owned approximately 0.06% of Mercury Systems worth $2,800,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Mercury Systems by 161.7% during the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company's stock worth $118,224,000 after purchasing an additional 943,736 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company's stock worth $118,640,000 after acquiring an additional 751,813 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after acquiring an additional 290,989 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Mercury Systems by 118,133.6% in the third quarter. Bessemer Group Inc. now owns 274,302 shares of the technology company's stock worth $21,232,000 after acquiring an additional 274,070 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Mercury Systems by 8.7% in the second quarter. State Street Corp now owns 3,246,573 shares of the technology company's stock worth $174,860,000 after acquiring an additional 259,388 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Buying and Selling

In other news, CAO Douglas Munro sold 582 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the sale, the chief accounting officer directly owned 14,328 shares of the company's stock, valued at approximately $1,197,247.68. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Howard L. Lance sold 4,832 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the sale, the director directly owned 27,272 shares in the company, valued at approximately $2,426,662.56. This represents a 15.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 463,383 shares of company stock valued at $42,389,584 in the last quarter. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

MRCY has been the topic of several recent analyst reports. Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Jefferies Financial Group reissued a "hold" rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $105.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.44.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $90.34 on Monday. Mercury Systems Inc has a one year low of $44.01 and a one year high of $103.84. The stock has a fifty day moving average of $81.26 and a 200-day moving average of $80.64. The company has a market capitalization of $5.42 billion, a PE ratio of -376.42, a price-to-earnings-growth ratio of 8.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. As a group, equities analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc NASDAQ: MRCY is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.

Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems Inc (NASDAQ:MRCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.