Legal & General Group Plc Trims Holdings in Mercury Systems Inc $MRCY

Legal & General Group Plc reduced its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,874 shares of the technology company’s stock after selling 4,602 shares during the quarter. Legal & General Group Plc owned 0.27% of Mercury Systems worth $11,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. boosted its stake in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares during the last quarter. Leonteq Securities AG bought a new position in Mercury Systems during the 4th quarter worth approximately $35,000. Federated Hermes Inc. bought a new position in Mercury Systems during the 2nd quarter worth approximately $43,000. AlphaQuest LLC lifted its holdings in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after buying an additional 234 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares of the company’s stock, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday. The Goldman Sachs Group lifted 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. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Mercury Systems has an average rating of “Moderate Buy” and an average target price of $91.00.

Mercury Systems Stock Performance

Mercury Systems stock opened at $111.59 on Thursday. The company has a market cap of $6.70 billion, a PE ratio of -464.96 and a beta of 0.94. The company has a fifty day moving average price of $86.76 and a two-hundred day moving average price of $83.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. Mercury Systems Inc has a 12 month low of $48.75 and a 12 month high of $114.98.

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