Bank of Montreal Can Acquires 10,160 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Bank of Montreal Can increased its holdings in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 89.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,478 shares of the technology company’s stock after acquiring an additional 10,160 shares during the period. Bank of Montreal Can’s holdings in Mercury Systems were worth $580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in Mercury Systems by 27.0% during the first quarter. Sei Investments Co. now owns 216,956 shares of the technology company’s stock valued at $6,400,000 after purchasing an additional 46,132 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Mercury Systems by 102.6% during the 1st quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock worth $7,597,000 after buying an additional 130,396 shares during the period. Natixis acquired a new stake in Mercury Systems in the 1st quarter valued at $693,000. Van ECK Associates Corp grew its position in Mercury Systems by 258.7% in the first quarter. Van ECK Associates Corp now owns 112,813 shares of the technology company’s stock valued at $3,328,000 after acquiring an additional 81,364 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Mercury Systems by 0.6% during the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after acquiring an additional 36,923 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Trading Down 0.4 %

Shares of NASDAQ MRCY opened at $36.62 on Wednesday. Mercury Systems, Inc. has a 1-year low of $25.31 and a 1-year high of $42.72. The company has a 50-day moving average of $36.69 and a two-hundred day moving average of $32.21. The company has a market cap of $2.17 billion, a PE ratio of -15.58 and a beta of 0.70. The company has a current ratio of 4.07, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.32. The firm had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. As a group, equities analysts expect that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the sale, the director now directly owns 11,339 shares of the company’s stock, valued at $431,675.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jana Partners Management, Lp acquired 13,600 shares of Mercury Systems stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the purchase, the director now owns 6,944,633 shares of the company’s stock, valued at approximately $258,687,579.25. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 22,099 shares of company stock worth $865,740 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MRCY has been the topic of several recent analyst reports. 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. JPMorgan Chase & Co. boosted their price target on shares of Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, September 5th. Robert W. Baird raised their price objective 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. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Royal Bank of Canada increased their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price of $33.50.

About Mercury Systems

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.