Raymond James Financial Inc. Acquires New Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Raymond James Financial Inc. bought a new stake in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 101,384 shares of the technology company's stock, valued at approximately $4,258,000. Raymond James Financial Inc. owned about 0.17% of Mercury Systems as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Mercury Systems by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company's stock valued at $10,327,000 after buying an additional 7,512 shares in the last quarter. Victory Capital Management Inc. increased its stake in Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after purchasing an additional 294,747 shares during the period. Vanguard Group Inc. lifted its position in shares of Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after purchasing an additional 41,324 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Mercury Systems by 35.1% in the fourth quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company's stock valued at $12,479,000 after purchasing an additional 77,254 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in shares of Mercury Systems by 14.4% in the fourth quarter. Zions Bancorporation N.A. now owns 50,159 shares of the technology company's stock valued at $2,107,000 after purchasing an additional 6,325 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Activity

In other Mercury Systems news, CAO Douglas Munro sold 595 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the sale, the chief accounting officer now directly owns 14,572 shares of the company's stock, valued at approximately $642,916.64. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stuart Kupinsky sold 2,377 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $104,873.24. Following the completion of the transaction, the executive vice president now directly owns 62,834 shares in the company, valued at approximately $2,772,236.08. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Stock Up 0.8 %

Shares of NASDAQ:MRCY traded up $0.38 during trading on Friday, hitting $50.41. 73,867 shares of the company were exchanged, compared to its average volume of 579,193. The firm's 50 day moving average price is $45.52 and its 200-day moving average price is $42.23. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $52.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The stock has a market capitalization of $3.01 billion, a P/E ratio of -32.54 and a beta of 0.69.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. On average, research analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird upgraded shares of Mercury Systems from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their target price on Mercury Systems from $25.00 to $28.00 and gave the company a "sell" rating in a report on Thursday, January 16th. Truist Financial upgraded Mercury Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. Finally, Baird R W upgraded Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $43.86.

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.