Northern Trust Corp Grows Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Northern Trust Corp lifted its stake in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 593,455 shares of the technology company's stock after buying an additional 16,674 shares during the period. Northern Trust Corp owned approximately 0.99% of Mercury Systems worth $24,925,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRCY. Dark Forest Capital Management LP purchased a new position in Mercury Systems during the 4th quarter valued at about $460,000. Mesirow Institutional Investment Management Inc. increased its holdings in Mercury Systems by 14.7% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 500,831 shares of the technology company's stock valued at $21,035,000 after purchasing an additional 64,283 shares during the period. Natixis purchased a new position in Mercury Systems during the 4th quarter valued at about $226,000. Dimensional Fund Advisors LP increased its holdings in Mercury Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after purchasing an additional 52,725 shares during the period. Finally, First Trust Advisors LP increased its holdings in Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock valued at $41,535,000 after purchasing an additional 333,109 shares during the period. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial upgraded Mercury Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $49.00 to $56.00 in a report on Thursday, March 13th. Baird R W upgraded Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. The Goldman Sachs Group upped their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a "sell" rating in a report on Thursday, January 16th. Robert W. Baird upgraded Mercury Systems from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Finally, Royal Bank of Canada upped their target price on Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $46.00.

Mercury Systems Stock Performance

Shares of MRCY opened at $46.36 on Monday. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The business's 50 day moving average price is $46.16 and its 200-day moving average price is $42.94. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The stock has a market cap of $2.77 billion, a P/E ratio of -29.72 and a beta of 0.70.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The firm had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. During the same period in the previous year, the firm posted ($0.26) EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, COO Charles Roger Iv Wells sold 2,342 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $103,329.04. Following the transaction, the chief operating officer now directly owns 95,928 shares of the company's stock, valued at approximately $4,232,343.36. This represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the transaction, the director now directly owns 6,861,313 shares in the company, valued at $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,466 shares of company stock valued at $4,313,247 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Mercury Systems Profile

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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