Mercury Systems Inc $MRCY Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 10.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,994 shares of the technology company’s stock after selling 88,151 shares during the quarter. Van ECK Associates Corp owned 1.27% of Mercury Systems worth $93,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in Mercury Systems in the first quarter worth about $755,000. Goldman Sachs Group Inc. increased its holdings in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after purchasing an additional 18,916 shares during the last quarter. Jane Street Group LLC raised its position in shares of Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Mercury Systems by 30.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after purchasing an additional 29,057 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Douglas Munro sold 548 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $54,969.88. Following the sale, the chief accounting officer owned 13,091 shares of the company’s stock, valued at $1,313,158.21. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Steven Ratner sold 356 shares of Mercury Systems stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $91.36, for a total transaction of $32,524.16. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 446,186 shares of company stock worth $41,432,610. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $88.54 on Friday. The stock has a market cap of $5.32 billion, a PE ratio of -177.08 and a beta of 0.95. The business has a 50-day simple moving average of $105.02 and a 200-day simple moving average of $94.95. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 52-week low of $65.04 and a 52-week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. On average, equities analysts expect that Mercury Systems Inc will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

MRCY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Piper Sandler reiterated an “overweight” rating and set a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Robert W. Baird lifted their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Truist Financial upped their target price on Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price 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.