Wealth Enhancement Advisory Services LLC Invests $213,000 in Mercury Systems Inc $MRCY

Key Points

• Wealth Enhancement Advisory Services LLC has invested approximately $213,000 in Mercury Systems Inc, acquiring 4,135 shares during the 2nd quarter.
• The stock of Mercury Systems Inc has shown significant volatility, trading between a 1-year low of $32.32 and a high of $85.33, currently priced at $73.58.
• Insider trades have been active, with Director Jana Partners Management selling 797,000 shares for over $52 million, reducing their stake by 11.79%.

Wealth Enhancement Advisory Services LLC purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,135 shares of the technology company's stock, valued at approximately $213,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 395 shares in the last quarter. Fifth Third Bancorp boosted its stake in Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the period. Nkcfo LLC bought a new stake in Mercury Systems during the 1st quarter valued at approximately $72,000. US Bancorp DE boosted its stake in Mercury Systems by 43.0% during the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock valued at $107,000 after purchasing an additional 749 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Mercury Systems by 143.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,966 shares of the technology company's stock valued at $257,000 after purchasing an additional 3,513 shares during the period. Institutional investors own 95.99% of the company's stock.

Mercury Systems Trading Down 9.1%

Shares of MRCY opened at $73.58 on Friday. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $85.33. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $70.17 and a 200-day simple moving average of $56.41. The stock has a market cap of $4.42 billion, a PE ratio of -111.48, a PEG ratio of 3.37 and a beta of 0.82.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The business had revenue of $256.86 million during the quarter. On average, sell-side analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the 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 completion of the transaction, the director directly owned 5,964,313 shares of the company's stock, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Ballhaus sold 13,050 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 $841,203.00. Following the completion of the transaction, the chief executive officer owned 374,976 shares of the company's stock, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 848,980 shares of company stock worth $55,529,247 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MRCY. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research note on Wednesday. Canaccord Genuity Group began coverage on Mercury Systems in a research note on Thursday, October 2nd. They set a "buy" rating and a $88.00 target price for the company. Robert W. Baird increased their target price on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research downgraded Mercury Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Finally, Truist Financial increased their target price on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.67.

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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