Wellington Management Group LLP Grows Position in Mercury Systems Inc $MRCY

Key Points

• Wellington Management increased its Mercury Systems stake by 2.6% in the second quarter to 775,502 shares, worth approximately $94.9 million. Institutional investors collectively own 95.99% of the company, including a new $1.15 billion position from BlackRock.
• Mercury Systems reported quarterly revenue of $289.78 million, up 6.1% year over year and above expectations, but earnings per share of $0.37 narrowly missed estimates. The company posted a negative net margin of 3.02%.
• Analyst sentiment remains mixed: several firms raised price targets and maintained buy or outperform ratings, but the consensus rating is “Hold” with an average target of $110.10. Insiders have sold 446,186 shares worth $41.4 million over the past three months.

Wellington Management Group LLP grew its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 775,502 shares of the technology company's stock after acquiring an additional 19,977 shares during the quarter. Wellington Management Group LLP owned 1.29% of Mercury Systems worth $94,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MRCY. BlackRock Inc. bought a new stake in Mercury Systems in the 2nd quarter worth about $1,146,342,000. Deutsche Bank AG bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $17,454,000. Rice Hall James & Associates LLC bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $4,866,000. Louisiana State Employees Retirement System purchased a new position in shares of Mercury Systems in the 1st quarter worth approximately $1,706,000. Finally, American Capital Management Inc. purchased a new position in shares of Mercury Systems in the 2nd quarter worth approximately $59,460,000. Institutional investors own 95.99% of the company's stock.

Mercury Systems Price Performance

NASDAQ MRCY opened at $82.80 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.98 billion, a PE ratio of -165.60 and a beta of 0.98. Mercury Systems Inc has a 52 week low of $65.04 and a 52 week high of $128.45. The firm's 50-day simple moving average is $103.97 and its two-hundred day simple moving average is $95.06.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $289.78 million during the quarter, compared to analysts' expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.Mercury Systems's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. Research analysts predict that Mercury Systems Inc will post 0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

MRCY has been the subject of several research analyst reports. Canaccord Genuity Group raised their target price on Mercury Systems from $106.00 to $128.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Truist Financial boosted their price target on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Royal Bank Of Canada increased their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Mercury Systems from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mercury Systems currently has an average rating of "Hold" and an average target price of $110.10.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, CAO Douglas Munro sold 548 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $54,969.88. Following the sale, the chief accounting officer owned 13,091 shares of the company's stock, valued at $1,313,158.21. The trade was a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Stuart Kupinsky sold 1,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $95.23, for a total value of $95,230.00. Following the sale, the executive vice president owned 56,352 shares in the company, valued at approximately $5,366,400.96. This represents a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 446,186 shares of company stock worth $41,432,610. Company insiders own 1.40% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source