Vident Advisory LLC Has $3.30 Million Stock Holdings in Mercury Systems Inc $MRCY

Key Points

• Vident Advisory LLC increased its stake in Mercury Systems Inc by 114.1%, owning approximately $3.30 million worth of stock after acquiring an additional 40,784 shares in the first quarter.
• Mercury Systems reported strong earnings, with an EPS of $0.47, exceeding analyst expectations of $0.21, and revenue of $273.11 million for the quarter.
• Over 95% of Mercury Systems' stock is held by institutional investors and hedge funds, reflecting strong institutional interest in the company.

Vident Advisory LLC boosted its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 114.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,533 shares of the technology company's stock after purchasing an additional 40,784 shares during the quarter. Vident Advisory LLC owned about 0.13% of Mercury Systems worth $3,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC raised its position in shares of Mercury Systems by 196.1% in the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock valued at $42,987,000 after purchasing an additional 677,894 shares during the period. MetLife Investment Management LLC grew its stake in Mercury Systems by 1,479.5% in the 1st quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company's stock valued at $21,228,000 after buying an additional 461,449 shares during the last quarter. Nuveen LLC acquired a new position in Mercury Systems in the 1st quarter valued at about $8,751,000. Conestoga Capital Advisors LLC raised its holdings in Mercury Systems by 8.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock valued at $97,305,000 after acquiring an additional 185,369 shares during the period. Finally, Deutsche Bank AG lifted its position in Mercury Systems by 190.8% during the fourth quarter. Deutsche Bank AG now owns 151,476 shares of the technology company's stock worth $6,362,000 after acquiring an additional 99,391 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $67.55 on Monday. The business has a fifty day moving average price of $56.24 and a two-hundred day moving average price of $50.14. The stock has a market capitalization of $4.05 billion, a PE ratio of -102.35, a P/E/G ratio of 2.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. Mercury Systems Inc has a fifty-two week low of $32.32 and a fifty-two week high of $69.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $0.23 EPS. Mercury Systems's quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Stuart Kupinsky sold 1,220 shares of the business's stock in a transaction that occurred 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 directly 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 sale 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 company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the sale, the chief executive officer directly owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 850,752 shares of company stock valued at $55,622,679. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

MRCY has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. Truist Financial boosted their price target on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research note 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 report on Wednesday, August 13th. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Finally, JPMorgan Chase & Co. lifted their target price on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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