TD Asset Management Inc Buys New Position in Mercury Systems Inc $MRCY

TD Asset Management Inc bought a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 11,718 shares of the technology company’s stock, valued at approximately $631,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Mercury Systems by 25.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company’s stock valued at $71,000 after purchasing an additional 264 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Mercury Systems by 4.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company’s stock valued at $507,000 after purchasing an additional 449 shares during the period. KLP Kapitalforvaltning AS boosted its stake in Mercury Systems by 4.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the technology company’s stock valued at $598,000 after purchasing an additional 500 shares during the period. US Bancorp DE boosted its stake in Mercury Systems by 43.0% during the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company’s stock valued at $107,000 after purchasing an additional 749 shares during the period. Finally, Altfest L J & Co. Inc. boosted its stake in Mercury Systems by 4.6% during the 1st quarter. Altfest L J & Co. Inc. now owns 17,602 shares of the technology company’s stock valued at $758,000 after purchasing an additional 770 shares during the period. Institutional investors own 95.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the transaction, the chief executive officer directly owned 374,976 shares of the company’s stock, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 848,980 shares of company stock worth $55,529,247 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Trading Up 2.7%

Mercury Systems stock opened at $77.60 on Friday. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $85.33. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $73.57 and a two-hundred day moving average price of $58.49. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -117.57, a price-to-earnings-growth ratio of 3.09 and a beta of 0.82.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The business had revenue of $256.86 million during the quarter. As a group, equities analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRCY. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Royal Bank Of Canada raised Mercury Systems from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 1st. Canaccord Genuity Group initiated coverage on Mercury Systems in a report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price target for the company. Truist Financial upped their price target on Mercury Systems from $71.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Robert W. Baird upped their price target on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.89.

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.