Mercury Systems Inc $MRCY Shares Purchased by State of Wyoming

State of Wyoming lifted its position in Mercury Systems Inc (NASDAQ:MRCY) by 5.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 15,721 shares of the technology company’s stock after acquiring an additional 775 shares during the period. State of Wyoming’s holdings in Mercury Systems were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP grew its position in shares of Mercury Systems by 100.7% in the 1st quarter. Trexquant Investment LP now owns 121,220 shares of the technology company’s stock worth $5,223,000 after acquiring an additional 60,820 shares in the last quarter. Ieq Capital LLC grew its position in shares of Mercury Systems by 16.1% in the 1st quarter. Ieq Capital LLC now owns 6,652 shares of the technology company’s stock worth $287,000 after acquiring an additional 924 shares in the last quarter. Comerica Bank grew its position in shares of Mercury Systems by 19.8% in the 1st quarter. Comerica Bank now owns 218,362 shares of the technology company’s stock worth $9,409,000 after acquiring an additional 36,130 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Mercury Systems by 1,479.5% in the 1st quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock worth $21,228,000 after acquiring an additional 461,449 shares in the last quarter. Finally, Axiom Investors LLC DE acquired a new position in shares of Mercury Systems in the 1st quarter worth approximately $2,914,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Activity

In other Mercury Systems news, EVP David E. Farnsworth sold 7,572 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the sale, the executive vice president owned 161,326 shares of the company’s stock, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the chief executive officer directly owned 374,976 shares in the company, valued at $24,170,952.96. The trade was a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 850,752 shares of company stock worth $55,622,679 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Trading Down 1.4%

NASDAQ:MRCY opened at $67.55 on Friday. The business has a 50 day simple moving average of $56.24 and a 200 day simple moving average of $50.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The firm has a market capitalization of $4.05 billion, a P/E ratio of -102.35, a P/E/G ratio of 2.82 and a beta of 0.72. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $69.95.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results 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. The firm had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities research analysts predict that Mercury Systems Inc will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MRCY shares. Truist Financial lifted their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Zacks Research upgraded Mercury Systems from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Raymond James Financial upgraded Mercury Systems from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $55.00 to $80.00 in a research report on Tuesday, August 12th. Robert W. Baird boosted their price objective on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group boosted their price objective on Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.71.

Mercury Systems Company 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.