Allspring Global Investments Holdings LLC Invests $9.07 Million in Mercury Systems Inc $MRCY

Allspring Global Investments Holdings LLC purchased a new stake in Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 179,111 shares of the technology company’s stock, valued at approximately $9,068,000. Allspring Global Investments Holdings LLC owned 0.30% of Mercury Systems at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MRCY. GAMMA Investing LLC lifted its stake in shares of Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock valued at $46,000 after buying an additional 395 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Mercury Systems in the 1st quarter valued at about $2,562,000. Teacher Retirement System of Texas bought a new position in Mercury Systems in the 1st quarter valued at about $319,000. Finally, Principal Financial Group Inc. boosted its stake in Mercury Systems by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock valued at $11,848,000 after purchasing an additional 29,074 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Stock Down 2.0%

Shares of NASDAQ:MRCY opened at $75.54 on Friday. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $85.33. The company has a market capitalization of $4.53 billion, a PE ratio of -114.45, a price-to-earnings-growth ratio of 3.09 and a beta of 0.82. The business has a fifty day moving average price of $72.53 and a two-hundred day moving average price of $57.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. The company had revenue of $256.86 million for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 12th. Canaccord Genuity Group assumed coverage on Mercury Systems in a report on Thursday, October 2nd. They set a “buy” rating and a $88.00 price target for the company. Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. UBS Group set a $88.00 price objective on shares of Mercury Systems in a report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.89.

Insider Transactions at Mercury Systems

In related news, EVP Stuart Kupinsky sold 1,220 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $78,641.20. Following the transaction, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the 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 transaction, the chief executive officer directly owned 374,976 shares of the company’s stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 848,980 shares of company stock valued at $55,529,247. Corporate insiders own 1.40% of the company’s stock.

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.