UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 6,413 Shares of Mercury Systems Inc $MRCY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,585 shares of the technology company’s stock after buying an additional 6,413 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Mercury Systems worth $14,996,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Mercury Systems during the second quarter worth about $43,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Mercury Systems during the second quarter valued at approximately $52,000. Leonteq Securities AG bought a new position in shares of Mercury Systems during the fourth quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in shares of Mercury Systems during the fourth quarter valued at approximately $37,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Mercury Systems news, CEO William L. Ballhaus sold 111,076 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total value of $9,676,941.12. Following the completion of the transaction, the chief executive officer owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Farnsworth sold 8,155 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the transaction, the executive vice president owned 124,579 shares in the company, valued at $12,496,519.49. This represents a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, 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 Trading Down 2.7%

NASDAQ:MRCY opened at $82.42 on Friday. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -164.84 and a beta of 0.98. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average price is $102.57 and its 200-day moving average price is $95.00. 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 earnings per share (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 business had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. During the same period last year, the company posted $0.47 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Mercury Systems Inc will post 0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Weiss Ratings upgraded Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Canaccord Genuity Group lifted their price objective on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $131.00 target price (up from $126.00) on shares of Mercury Systems in a report on Wednesday, August 19th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $110.10.

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.