The Manufacturers Life Insurance Company Takes Position in Mercury Systems Inc $MRCY

The Manufacturers Life Insurance Company bought a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 31,820 shares of the technology company’s stock, valued at approximately $3,893,000.

Several other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in Mercury Systems in the 1st quarter worth $755,000. Goldman Sachs Group Inc. lifted its position in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Mercury Systems by 13.4% in the first 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 period. Jane Street Group LLC boosted its stake in shares of Mercury Systems by 161.3% in the first 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of Mercury Systems by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after purchasing an additional 29,057 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRCY has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Royal Bank Of Canada lifted their price objective on shares of Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $131.00 price target (up from $126.00) on shares of Mercury Systems in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Mercury Systems currently has an average rating of “Hold” and a consensus price target of $110.10.

Mercury Systems Stock Down 5.2%

Shares of NASDAQ MRCY opened at $82.80 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 12-month low of $65.04 and a 12-month high of $128.45. The firm’s 50-day moving average price is $103.97 and its 200-day moving average price is $95.06. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -165.60 and a beta of 0.98.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Mercury Systems Inc will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William L. Ballhaus sold 49,090 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the transaction, the chief executive officer owned 361,822 shares of the company’s stock, valued at approximately $32,238,340.20. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David E. Farnsworth sold 6,612 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $97.67, for a total value of $645,794.04. Following the sale, the executive vice president owned 117,967 shares in the company, valued at $11,521,836.89. The trade was a 5.31% 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. Over the last three months, insiders sold 446,186 shares of company stock worth $41,432,610. 1.40% of the stock is currently owned by company insiders.

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.