Rhumbline Advisers Acquires 32,667 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Rhumbline Advisers grew its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 24.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,840 shares of the technology company’s stock after acquiring an additional 32,667 shares during the period. Rhumbline Advisers owned 0.28% of Mercury Systems worth $4,530,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in Mercury Systems in the second quarter worth $81,000. Van ECK Associates Corp lifted its position in shares of Mercury Systems by 52.1% in the second quarter. Van ECK Associates Corp now owns 171,618 shares of the technology company’s stock worth $4,632,000 after buying an additional 58,805 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mercury Systems by 16.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,900 shares of the technology company’s stock worth $348,000 after acquiring an additional 1,841 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in shares of Mercury Systems by 11.4% during the 2nd quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock worth $255,000 after acquiring an additional 972 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Mercury Systems by 3.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,308,965 shares of the technology company’s stock valued at $35,329,000 after acquiring an additional 39,235 shares during the last quarter. 95.99% of the stock is owned by institutional investors.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $38.02 on Monday. The firm’s 50-day moving average is $35.45 and its 200-day moving average is $31.37. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -16.18 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $42.72.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. The business had revenue of $248.56 million for the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. Equities research analysts anticipate that Mercury Systems, Inc. will post -0.52 earnings per share for the current year.

Insider Activity

In other news, Director Jana Partners Management, Lp bought 13,600 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $37.25 per share, with a total value of $506,600.00. Following the completion of the transaction, the director now directly owns 6,944,633 shares in the company, valued at $258,687,579.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mercury Systems news, CEO William L. Ballhaus sold 6,549 shares of Mercury Systems stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $258,620.01. Following the sale, the chief executive officer now directly owns 353,481 shares of the company’s stock, valued at $13,958,964.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp bought 13,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $37.25 per share, with a total value of $506,600.00. Following the completion of the acquisition, the director now owns 6,944,633 shares in the company, valued at approximately $258,687,579.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 22,030 shares of company stock worth $863,145. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Royal Bank of Canada boosted their price objective on shares of Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 14th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a research note on Monday, August 19th. Robert W. Baird lifted their target price on shares of Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Finally, Truist Financial upped their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.50.

Mercury Systems Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.