Mercury Systems, Inc. (NASDAQ:MRCY) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,905 shares of the technology company’s stock after selling 8,015 shares during the period. Legal & General Group Plc owned about 0.27% of Mercury Systems worth $6,884,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MRCY. Invesco Ltd. lifted its holdings in shares of Mercury Systems by 6.4% in the 4th quarter. Invesco Ltd. now owns 631,961 shares of the technology company’s stock valued at $26,542,000 after buying an additional 37,847 shares during the period. Bank of Montreal Can lifted its holdings in Mercury Systems by 5.0% in the fourth quarter. Bank of Montreal Can now owns 10,984 shares of the technology company’s stock valued at $461,000 after acquiring an additional 519 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Mercury Systems by 156,480.0% during the 4th quarter. Russell Investments Group Ltd. now owns 15,658 shares of the technology company’s stock worth $658,000 after purchasing an additional 15,648 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Mercury Systems by 12.7% during the 4th quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company’s stock worth $1,877,000 after purchasing an additional 5,038 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Mercury Systems by 217.2% in the 4th quarter. JPMorgan Chase & Co. now owns 146,624 shares of the technology company’s stock valued at $6,158,000 after purchasing an additional 100,404 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $47.96 on Friday. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -30.74 and a beta of 0.86. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $52.25. The company’s 50-day moving average is $44.60 and its two-hundred day moving average is $41.47.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Research analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on MRCY shares. The Goldman Sachs Group upped their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. Finally, Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.86.

Insider Buying and Selling

In other Mercury Systems news, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the transaction, the chief accounting officer now directly owns 14,572 shares of the company’s stock, valued at $642,916.64. This represents a 3.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Stuart Kupinsky sold 2,377 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $104,873.24. Following the sale, the executive vice president now directly owns 62,834 shares of the company’s stock, valued at $2,772,236.08. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,314 shares of company stock worth $234,454. 1.60% of the stock is currently owned by corporate insiders.

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.