Bessemer Group Inc. Purchases 274,070 Shares of Mercury Systems Inc $MRCY

Bessemer Group Inc. raised its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 118,133.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,302 shares of the technology company’s stock after purchasing an additional 274,070 shares during the period. Bessemer Group Inc. owned 0.46% of Mercury Systems worth $21,232,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MRCY. Envestnet Asset Management Inc. increased its position in Mercury Systems by 22.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 19,781 shares of the technology company’s stock valued at $1,531,000 after buying an additional 3,676 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Mercury Systems in the 3rd quarter worth approximately $144,000. Marco Investment Management LLC acquired a new position in Mercury Systems during the 3rd quarter valued at approximately $205,000. State of Wyoming purchased a new position in shares of Mercury Systems in the third quarter worth $87,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Mercury Systems by 1.8% during the third quarter. Thrivent Financial for Lutherans now owns 38,038 shares of the technology company’s stock worth $2,944,000 after buying an additional 690 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Transactions at Mercury Systems

In related news, CAO Douglas Munro sold 1,329 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total transaction of $97,575.18. Following the sale, the chief accounting officer owned 14,678 shares of the company’s stock, valued at approximately $1,077,658.76. This represents a 8.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

MRCY has been the topic of several research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a research report on Wednesday, November 5th. Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Wednesday. Finally, Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a report on Wednesday. One equities research analyst has 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’s stock. Based on data from MarketBeat, Mercury Systems has an average rating of “Hold” and a consensus target price of $87.13.

Mercury Systems Trading Up 4.0%

Shares of Mercury Systems stock opened at $82.20 on Friday. The stock has a market capitalization of $4.93 billion, a P/E ratio of -155.09, a P/E/G ratio of 3.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.31 and a current ratio of 2.96. The stock’s 50-day simple moving average is $83.39 and its 200 day simple moving average is $74.56. Mercury Systems Inc has a 52-week low of $39.89 and a 52-week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The business had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. Mercury Systems’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current year.

About Mercury Systems

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.