Van ECK Associates Corp Has $55.79 Million Stock Position in Mercury Systems Inc $MRCY

Key Points

• VanEck Associates raised its stake in Mercury Systems by 1.7% to 720,856 shares, a position worth about $55.79 million (roughly 1.2% of the company) at the end of the quarter.
• Mercury beat quarterly estimates with $0.16 EPS vs. $0.07 expected and revenue of $232.87 million (up 4.4% YoY), but the company still posted a negative net margin and the stock carries an average analyst rating of "Hold" with a $86.89 target.
• Insiders have sold heavily recently—859,758 shares worth $74.48 million in the past 90 days—while institutional investors own about 95.99% of the stock and corporate insiders hold ~1.4%.

Van ECK Associates Corp lifted its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,856 shares of the technology company's stock after purchasing an additional 12,296 shares during the quarter. Van ECK Associates Corp owned about 1.20% of Mercury Systems worth $55,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Mercury Systems in the first quarter worth approximately $755,000. Goldman Sachs Group Inc. lifted its holdings in shares of Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company's stock worth $6,878,000 after purchasing an additional 18,916 shares in the last quarter. Jane Street Group LLC grew its position in Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company's stock valued at $2,188,000 after purchasing an additional 31,337 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Mercury Systems by 5.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 16,105 shares of the technology company's stock valued at $867,000 after purchasing an additional 822 shares during the period. 95.99% of the stock is owned by institutional investors.

Mercury Systems Stock Down 2.8%

MRCY opened at $86.87 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The company's 50-day moving average is $89.59 and its 200 day moving average is $79.21. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The firm has a market capitalization of $5.21 billion, a P/E ratio of -163.91, a PEG ratio of 8.66 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.09. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The business had revenue of $232.87 million during the quarter, compared to the consensus estimate of $209.96 million. During the same period in the prior year, the firm posted $0.07 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MRCY. Royal Bank Of Canada restated an "outperform" rating and set a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Jefferies Financial Group restated a "hold" rating and issued a $85.00 target price on shares of Mercury Systems in a report on Sunday, February 8th. Truist Financial lifted their price target on Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group boosted their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a "sell" rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $86.89.

Insider Activity at Mercury Systems

In other news, CAO Douglas Munro sold 582 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $48,631.92. Following the completion of the sale, the chief accounting officer owned 14,328 shares in the company, valued at $1,197,247.68. This trade represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stuart Kupinsky sold 2,287 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total value of $191,101.72. Following the completion of the transaction, the executive vice president owned 68,010 shares in the company, valued at approximately $5,682,915.60. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 859,758 shares of company stock worth $74,481,931 in the last ninety days. Corporate insiders own 1.40% of the company's stock.

Mercury Systems 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.

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