Man Group plc Invests $13.53 Million in Mercury Systems Inc $MRCY

Man Group plc acquired a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 110,597 shares of the technology company’s stock, valued at approximately $13,529,000. Man Group plc owned approximately 0.18% of Mercury Systems at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Maryland State Retirement & Pension System raised its stake in Mercury Systems by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Mercury Systems by 8.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock valued at $243,000 after purchasing an additional 155 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Mercury Systems by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock worth $880,000 after purchasing an additional 187 shares in the last quarter. Arizona State Retirement System lifted its stake in Mercury Systems by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 195 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in Mercury Systems by 3.0% in the third quarter. Focus Partners Wealth now owns 6,929 shares of the technology company’s stock valued at $536,000 after buying an additional 199 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP David E. Farnsworth sold 6,612 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $97.67, for a total transaction of $645,794.04. Following the transaction, the executive vice president owned 117,967 shares in the company, valued at approximately $11,521,836.89. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Stuart Kupinsky sold 1,000 shares of Mercury Systems stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $95.23, for a total transaction of $95,230.00. Following the transaction, the executive vice president owned 56,352 shares of the company’s stock, valued at $5,366,400.96. This represents a 1.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 446,186 shares of company stock worth $41,432,610 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems Stock Up 0.8%

Shares of NASDAQ:MRCY opened at $90.47 on Friday. The business’s 50 day simple moving average is $105.53 and its two-hundred day simple moving average is $95.00. The firm has a market cap of $5.44 billion, a P/E ratio of -180.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. Mercury Systems Inc has a 52-week low of $65.04 and a 52-week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Mercury Systems Inc will post 0.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Royal Bank Of Canada lifted their price target on Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Jefferies Financial Group restated a “hold” rating and set a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Robert W. Baird boosted their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $110.10.

About Mercury Systems

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.