First Trust Advisors LP Trims Stock Position in Mercury Systems Inc $MRCY

First Trust Advisors LP decreased its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 9.3% during the first quarter, HoldingsChannel reports. The firm owned 1,160,775 shares of the technology company’s stock after selling 118,609 shares during the quarter. First Trust Advisors LP’s holdings in Mercury Systems were worth $84,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Invesco Ltd. raised its stake in Mercury Systems by 161.7% in the third 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 stake in Mercury Systems by 12.1% in the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after purchasing an additional 368,242 shares during the period. Goldman Sachs Group Inc. lifted its position in 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 buying an additional 290,989 shares during the period. Fifth Third Bancorp boosted its stake in 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, Jennison Associates LLC boosted its position in shares of Mercury Systems by 52.9% in the 1st quarter. Jennison Associates LLC now owns 688,114 shares of the technology company’s stock worth $50,170,000 after purchasing an additional 238,147 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Trading Down 2.9%

Mercury Systems stock opened at $103.27 on Friday. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.20 billion, a P/E ratio of -430.29 and a beta of 0.93. The business has a 50-day simple moving average of $108.26 and a two-hundred day simple moving average of $93.72. Mercury Systems Inc has a 52-week low of $50.13 and a 52-week high of $128.45.

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

Analyst Upgrades and Downgrades

Several research firms have commented on MRCY. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Zacks Research upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.

Insider Buying and Selling at Mercury Systems

In other news, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available at the SEC website. Also, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 18,250 shares of company stock valued at $1,733,220. Company insiders own 1.40% of the company’s stock.

Mercury Systems Company 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.