Bessemer Group Inc. Has $32.79 Million Stock Position in Mercury Systems Inc $MRCY

Bessemer Group Inc. lifted its stake in Mercury Systems Inc (NASDAQ:MRCY) by 12.6% in the first quarter, Holdings Channel.com reports. The firm owned 449,689 shares of the technology company’s stock after acquiring an additional 50,193 shares during the quarter. Bessemer Group Inc.’s holdings in Mercury Systems were worth $32,787,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Invesco Ltd. lifted its position in Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after buying an additional 943,736 shares in the last quarter. State Street Corp grew its holdings in shares of Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after acquiring an additional 368,242 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after acquiring an additional 290,989 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Mercury Systems by 22,232.9% during the first quarter. Fifth Third Bancorp now owns 267,101 shares of the technology company’s stock worth $19,474,000 after acquiring an additional 265,905 shares in the last quarter. Finally, Man Group plc purchased a new stake in shares of Mercury Systems during the fourth quarter worth $14,020,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Trading Up 0.1%

NASDAQ:MRCY opened at $96.08 on Friday. The company’s 50 day moving average is $107.49 and its 200-day moving average is $92.80. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12 month low of $50.13 and a 12 month high of $128.45. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of -400.33 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Mercury Systems Inc will post 0.35 EPS for the current year.

Insider Activity

In other news, Director Howard L. Lance sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 18,250 shares of company stock worth $1,733,220. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MRCY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday. Canaccord Genuity Group raised their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.78.

Mercury Systems Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.