Sei Investments Co. Decreases Holdings in Mercury Systems Inc $MRCY

Sei Investments Co. trimmed its position in Mercury Systems Inc (NASDAQ:MRCY) by 1.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 370,992 shares of the technology company’s stock after selling 7,365 shares during the quarter. Sei Investments Co.’s holdings in Mercury Systems were worth $27,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Mercury Systems during the 1st quarter valued at $755,000. Goldman Sachs Group Inc. boosted its position 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 purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Mercury Systems by 13.4% during 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 buying an additional 18,916 shares during the last quarter. Jane Street Group LLC increased its position in Mercury Systems by 161.3% during the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after buying an additional 31,337 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Mercury Systems by 30.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock valued at $6,731,000 after buying an additional 29,057 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,250 shares of company stock worth $1,733,220. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $103.80 on Tuesday. The stock has a 50-day simple moving average of $108.47 and a two-hundred day simple moving average of $93.95. The firm has a market capitalization of $6.23 billion, a P/E ratio of -432.50 and a beta of 0.93. Mercury Systems Inc has a fifty-two week low of $50.13 and a fifty-two week high of $128.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 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 positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities analysts forecast that Mercury Systems Inc will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRCY. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research report on Friday, July 10th. Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.78.

Mercury Systems 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.