Mercury Systems Inc $MRCY Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 610,687 shares of the technology company’s stock after selling 21,274 shares during the period. Invesco Ltd. owned approximately 1.02% of Mercury Systems worth $26,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC lifted its stake in shares of Mercury Systems by 8.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company’s stock valued at $97,305,000 after purchasing an additional 185,369 shares during the period. Dimensional Fund Advisors LP raised its position in Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company’s stock worth $92,490,000 after acquiring an additional 52,725 shares during the last quarter. Millennium Management LLC raised its position in Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock worth $42,987,000 after acquiring an additional 677,894 shares during the last quarter. First Trust Advisors LP raised its position in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock worth $41,535,000 after acquiring an additional 333,109 shares during the last quarter. Finally, Northern Trust Corp raised its position in Mercury Systems by 2.9% during the fourth quarter. Northern Trust Corp now owns 593,455 shares of the technology company’s stock worth $24,925,000 after acquiring an additional 16,674 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Price Performance

Mercury Systems stock opened at $64.22 on Wednesday. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $69.95. The firm has a 50 day moving average price of $53.75 and a 200 day moving average price of $48.93. The company has a market cap of $3.85 billion, a price-to-earnings ratio of -97.30, a PEG ratio of 3.13 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same period in the previous year, the firm earned $0.23 earnings per share. Mercury Systems’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $53.48, for a total transaction of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the sale, the director owned 5,964,313 shares of the company’s stock, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MRCY. JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 12th. Royal Bank Of Canada lifted their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 3rd. Truist Financial lifted their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Robert W. Baird lifted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.71.

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.