Hennion & Walsh Asset Management Inc. Buys 11,989 Shares of Mercury Systems Inc $MRCY

Hennion & Walsh Asset Management Inc. lifted its stake in Mercury Systems Inc (NASDAQ:MRCY) by 75.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,796 shares of the technology company’s stock after acquiring an additional 11,989 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Mercury Systems were worth $2,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRCY. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems during the third quarter valued at about $32,000. Osaic Holdings Inc. increased its position in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Quaker Wealth Management LLC lifted its holdings in shares of Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,288 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Mercury Systems in the 2nd quarter worth $43,000. Finally, EverSource Wealth Advisors LLC grew its stake in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Debora A. Plunkett sold 1,700 shares of Mercury Systems stock in a transaction on Friday, November 7th. The shares were sold at an average price of $73.99, for a total value of $125,783.00. Following the completion of the transaction, the director owned 16,833 shares of the company’s stock, valued at approximately $1,245,473.67. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the sale, the director directly owned 4,966,675 shares in the company, valued at approximately $374,735,628.75. The trade was a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,003,029 shares of company stock worth $75,673,358. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Wednesday, October 8th. Canaccord Genuity Group started coverage on shares of Mercury Systems in a report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price target for the company. Zacks Research lowered shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, UBS Group set a $88.00 target price on Mercury Systems in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $84.80 on Thursday. The firm’s fifty day moving average is $72.88 and its two-hundred day moving average is $67.92. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -148.77, a PEG ratio of 3.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.31 and a current ratio of 3.37. Mercury Systems Inc has a one year low of $39.42 and a one year high of $86.27.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $256.86 million during the quarter. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%. Research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.