Raymond James & Associates Raises Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Raymond James & Associates lifted its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 40.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,454 shares of the technology company’s stock after buying an additional 26,718 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Mercury Systems worth $3,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. grew its holdings in Mercury Systems by 14.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock valued at $45,848,000 after purchasing an additional 199,600 shares during the period. Roubaix Capital LLC acquired a new position in Mercury Systems during the second quarter valued at approximately $3,684,000. Jane Street Group LLC lifted its position in Mercury Systems by 102.6% during the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company’s stock valued at $7,597,000 after buying an additional 130,396 shares in the last quarter. Staley Capital Advisers Inc. lifted its position in Mercury Systems by 37.6% during the first quarter. Staley Capital Advisers Inc. now owns 449,360 shares of the technology company’s stock valued at $13,256,000 after buying an additional 122,829 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Mercury Systems during the second quarter valued at approximately $3,079,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Trading Up 2.6 %

MRCY opened at $33.18 on Monday. The stock has a market capitalization of $1.97 billion, a PE ratio of -13.88 and a beta of 0.71. The firm’s fifty day moving average price is $36.04 and its 200 day moving average price is $33.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.07 and a quick ratio of 2.64. Mercury Systems, Inc. has a 12-month low of $25.31 and a 12-month high of $42.72.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.32. The firm had revenue of $248.56 million for 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, research analysts expect that Mercury Systems, Inc. will post -0.52 EPS for the current fiscal year.

Insider Activity at Mercury Systems

In related news, CEO William L. Ballhaus sold 6,549 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,346 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the sale, the chief operating officer now owns 130,408 shares in the company, valued at $5,149,811.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Ballhaus sold 6,549 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $258,620.01. Following the sale, the chief executive officer now owns 353,481 shares of the company’s stock, valued at approximately $13,958,964.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,099 shares of company stock valued at $865,740 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

MRCY has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada lifted their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 14th. Robert W. Baird lifted their price target on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Alembic Global Advisors raised 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 report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.