Mercury Systems Inc $MRCY Shares Acquired by Swedbank AB

Swedbank AB increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 722.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,349 shares of the technology company’s stock after buying an additional 33,684 shares during the period. Swedbank AB’s holdings in Mercury Systems were worth $2,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MRCY. AQR Capital Management LLC acquired a new position in shares of Mercury Systems in the 1st quarter worth $755,000. Goldman Sachs Group Inc. grew its holdings in shares of Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after acquiring an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after acquiring an additional 18,916 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after acquiring an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Mercury Systems by 30.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after acquiring an additional 29,057 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MRCY. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Canaccord Genuity Group lifted their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 target price on shares of Mercury Systems in a research report on Sunday, May 10th. Finally, The Goldman Sachs Group raised their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.89.

Insiders Place Their Bets

In related news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the sale, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president directly owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 473,932 shares of company stock valued at $43,453,119 over the last quarter. 1.40% of the stock is owned by insiders.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $97.11 on Thursday. The stock has a market cap of $5.83 billion, a PE ratio of -404.63 and a beta of 0.83. The business has a fifty day simple moving average of $83.52 and a 200-day simple moving average of $82.34. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12 month low of $47.53 and a 12 month high of $103.84.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, sell-side analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal 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.