Zions Bancorporation National Association UT Makes New Investment in Mercury Systems Inc (NASDAQ:MRCY)

Key Points

• Zions Bancorporation National Association UT invested approximately $2.36 million in Mercury Systems Inc by acquiring 54,729 shares during the first quarter.
• Wall Street analysts have raised price targets for Mercury Systems, with estimates ranging from $33.00 to $60.00, although the stock has an average rating of "Hold."
• Insider selling occurred as EVP Steven Ratner sold 1,839 shares at an average price of $53.48, resulting in a decrease of 4.97% in his ownership.

Zions Bancorporation National Association UT acquired a new position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,729 shares of the technology company's stock, valued at approximately $2,358,000. Zions Bancorporation National Association UT owned approximately 0.09% of Mercury Systems as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MRCY. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the fourth quarter worth $33,000. GAMMA Investing LLC grew its holdings in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 in the last quarter. Sterling Capital Management LLC grew its holdings in Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after purchasing an additional 1,449 shares in the last quarter. Finally, Nkcfo LLC acquired a new stake in Mercury Systems during the 1st quarter valued at $72,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $53.48, for a total transaction of $98,349.72. Following the sale, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MRCY shares. JPMorgan Chase & Co. raised their price target on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday. Royal Bank Of Canada raised their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $55.00 to $80.00 in a research report on Tuesday. Truist Financial raised their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Robert W. Baird raised their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.13.

Mercury Systems Stock Performance

NASDAQ:MRCY traded down $1.04 during mid-day trading on Wednesday, hitting $66.99. The stock had a trading volume of 1,149,247 shares, compared to its average volume of 608,313. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of -101.47, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a 50 day simple moving average of $52.35 and a 200-day simple moving average of $48.03. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $69.95. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41.

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

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.