Wellington Management Group LLP Purchases 19,977 Shares of Mercury Systems Inc $MRCY

Wellington Management Group LLP boosted its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 775,502 shares of the technology company’s stock after purchasing an additional 19,977 shares during the period. Wellington Management Group LLP’s holdings in Mercury Systems were worth $94,867,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in Mercury Systems during the 2nd quarter worth approximately $43,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Mercury Systems in the 2nd quarter valued at $52,000. Leonteq Securities AG purchased a new position in shares of Mercury Systems during the 4th quarter valued at $35,000. Hollencrest Capital Management purchased a new position in shares of Mercury Systems during the 4th quarter valued at $37,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRCY has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Weiss Ratings upgraded Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. JPMorgan Chase & Co. upped their target price on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Canaccord Genuity Group raised their price target on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $110.10.

Insider Activity

In other news, EVP Steven Ratner sold 356 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $91.36, for a total value of $32,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart Kupinsky sold 1,000 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $95.23, for a total value of $95,230.00. Following the completion of the transaction, the executive vice president owned 56,352 shares of the company’s stock, valued at $5,366,400.96. The trade was 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. Over the last 90 days, insiders have sold 446,186 shares of company stock valued at $41,432,610. 1.40% of the stock is owned by insiders.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $82.80 on Wednesday. The company’s fifty day moving average price is $103.97 and its 200-day moving average price is $95.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -165.60 and a beta of 0.98. Mercury Systems Inc has a one year low of $65.04 and a one year high of $128.45.

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

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.