The Manufacturers Life Insurance Company Decreases Position in Mercury Systems, Inc. (NASDAQ:MRCY)

The Manufacturers Life Insurance Company lowered its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 29,451 shares of the technology company’s stock after selling 2,032 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mercury Systems were worth $1,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRCY. Dark Forest Capital Management LP purchased a new position in Mercury Systems during the fourth quarter worth $460,000. Mesirow Institutional Investment Management Inc. grew its holdings in Mercury Systems by 14.7% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 500,831 shares of the technology company’s stock valued at $21,035,000 after purchasing an additional 64,283 shares during the last quarter. Natixis purchased a new stake in Mercury Systems in the 4th quarter worth about $226,000. Dimensional Fund Advisors LP lifted its stake in Mercury Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company’s stock worth $92,490,000 after purchasing an additional 52,725 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock valued at $41,535,000 after buying an additional 333,109 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity

In related news, CAO Douglas Munro sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the completion of the transaction, the chief accounting officer now owns 14,572 shares in the company, valued at $642,916.64. The trade was a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stuart Kupinsky sold 2,377 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $104,873.24. Following the completion of the sale, the executive vice president now owns 62,834 shares of the company’s stock, valued at approximately $2,772,236.08. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,358 shares of company stock worth $4,498,895. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Trading Up 0.5%

NASDAQ MRCY opened at $46.73 on Wednesday. Mercury Systems, Inc. has a one year low of $26.48 and a one year high of $52.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of -29.96 and a beta of 0.70. The company’s 50-day simple moving average is $46.27 and its two-hundred day simple moving average is $43.05.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted ($0.26) earnings per share. Equities analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MRCY. Royal Bank of Canada increased their price target on Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $58.00 in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group boosted their price target on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.71.

Mercury Systems Company 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.