Mercury Systems Inc $MRCY Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 160,874 shares of the technology company’s stock after selling 4,602 shares during the period. Legal & General Group Plc’s holdings in Mercury Systems were worth $11,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Swedbank AB lifted its holdings in Mercury Systems by 722.1% in the fourth quarter. Swedbank AB now owns 38,349 shares of the technology company’s stock worth $2,800,000 after purchasing an additional 33,684 shares during the period. Legato Capital Management LLC lifted its holdings in Mercury Systems by 71.9% in the fourth quarter. Legato Capital Management LLC now owns 41,396 shares of the technology company’s stock worth $3,022,000 after purchasing an additional 17,311 shares during the period. Global Retirement Partners LLC acquired a new stake in Mercury Systems in the fourth quarter worth about $203,000. Leonteq Securities AG acquired a new stake in Mercury Systems in the fourth quarter worth about $35,000. Finally, ProShare Advisors LLC lifted its holdings in Mercury Systems by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 10,134 shares of the technology company’s stock worth $740,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $111.59 on Thursday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $86.76 and its two-hundred day moving average price is $83.68. Mercury Systems Inc has a 52 week low of $48.75 and a 52 week high of $114.98. The stock has a market cap of $6.70 billion, a PE ratio of -464.96 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly 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. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. During the same period in the previous year, the business earned $0.06 earnings per share. Mercury Systems’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Analyst Ratings Changes

MRCY has been the subject of several research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group upped their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. The trade was a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the sale, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 in the last ninety days. 1.40% of the stock is owned by insiders.

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.