Vanguard Group Inc. Cuts Stock Holdings in Mercury Systems Inc $MRCY

Key Points

• Vanguard Group Inc. reduced its stake in Mercury Systems Inc. by 0.9%, selling 49,822 shares and retaining approximately 9.22% of the company’s stock valued at $237 million.
• Mercury Systems has seen significant activity from other investors, with institutional investors owning 95.99% of the company’s stock as of the latest filings.
• Analysts have varied opinions on Mercury Systems, with Goldman Sachs giving it a "sell" rating, while Raymond James upgraded it to a "strong-buy" with a new price target of $80.00.

Vanguard Group Inc. lessened its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,500,788 shares of the technology company's stock after selling 49,822 shares during the period. Vanguard Group Inc. owned 9.22% of Mercury Systems worth $237,029,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after purchasing an additional 395 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in shares of Mercury Systems by 8.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company's stock worth $288,000 after acquiring an additional 517 shares during the period. Bank of Montreal Can lifted its stake in shares of Mercury Systems by 5.0% in the fourth quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock worth $461,000 after acquiring an additional 519 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in Mercury Systems by 5.1% in the fourth quarter. Rafferty Asset Management LLC now owns 12,977 shares of the technology company's stock valued at $545,000 after acquiring an additional 632 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 1,220 shares of Mercury Systems stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $78,641.20. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business's stock in a transaction that occurred 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 directly owned 5,964,313 shares of the company's stock, valued at $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 843,752 shares of company stock valued at $55,176,359. Corporate insiders own 1.60% of the company's stock.

Mercury Systems Stock Up 1.8%

Mercury Systems stock traded up $1.19 during mid-day trading on Friday, reaching $66.83. The stock had a trading volume of 445,964 shares, compared to its average volume of 801,089. The firm has a market capitalization of $4.00 billion, a PE ratio of -101.26, a price-to-earnings-growth ratio of 3.00 and a beta of 0.72. Mercury Systems Inc has a fifty-two week low of $32.32 and a fifty-two week high of $69.95. The stock's 50-day simple moving average is $54.55 and its 200-day simple moving average is $49.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. During the same period in the prior year, the firm earned $0.23 earnings per share. Mercury Systems's revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MRCY shares. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a report on Wednesday, August 13th. Royal Bank Of Canada upped 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. Robert W. Baird increased their price target on Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. boosted 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 target price on Mercury Systems from $60.00 to $71.00 and gave the company 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 assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.71.

About Mercury Systems

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.