Bessemer Group Inc. Has $29.17 Million Position in Mercury Systems Inc $MRCY

Bessemer Group Inc. boosted its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 45.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 399,496 shares of the technology company’s stock after acquiring an additional 125,194 shares during the quarter. Bessemer Group Inc.’s holdings in Mercury Systems were worth $29,168,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Mercury Systems by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after purchasing an additional 221,093 shares during the period. State Street Corp grew its position in Mercury Systems by 8.7% in the 2nd quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock valued at $174,860,000 after purchasing an additional 259,388 shares during the period. First Trust Advisors LP grew its position in Mercury Systems by 96.3% in the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after purchasing an additional 751,813 shares during the period. Invesco Ltd. grew its position in Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares during the period. Finally, Bamco Inc. NY grew its position in Mercury Systems by 4.9% in the 3rd quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company’s stock valued at $100,255,000 after purchasing an additional 60,483 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MRCY shares. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 price target on shares of Mercury Systems in a research report on Sunday, May 10th. Canaccord Genuity Group lifted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and a consensus target price of $89.89.

Insider Activity

In other Mercury Systems news, Director Howard L. Lance sold 4,832 shares of Mercury Systems stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total transaction of $429,951.36. Following the transaction, the director directly owned 27,272 shares of the company’s stock, valued at $2,426,662.56. The trade was a 15.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 472,383 shares of company stock worth $43,200,024. Company insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

MRCY opened at $92.03 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of -383.46, a P/E/G ratio of 8.91 and a beta of 0.83. The firm’s fifty day moving average price is $81.58 and its two-hundred day moving average price is $81.23. Mercury Systems Inc has a 1 year low of $44.01 and a 1 year high of $103.84.

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