Mercury Systems, Inc. (NASDAQ:MRCY) Position Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,899 shares of the technology company’s stock after acquiring an additional 7,814 shares during the period. Public Sector Pension Investment Board owned about 0.19% of Mercury Systems worth $3,101,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System lifted its stake in Mercury Systems by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock worth $710,000 after acquiring an additional 400 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Mercury Systems by 1.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock valued at $879,000 after purchasing an additional 450 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Mercury Systems by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 514 shares in the last quarter. Iridian Asset Management LLC CT boosted its holdings in shares of Mercury Systems by 11.4% during the second quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock worth $255,000 after purchasing an additional 972 shares during the period. Finally, Gabelli Funds LLC grew its position in Mercury Systems by 8.4% during the second quarter. Gabelli Funds LLC now owns 12,859 shares of the technology company’s stock valued at $347,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling at Mercury Systems

In other news, CEO William L. Ballhaus sold 6,549 shares of Mercury Systems stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $258,620.01. Following the transaction, the chief executive officer now directly owns 353,481 shares in the company, valued at $13,958,964.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William L. Ballhaus sold 6,549 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $258,620.01. Following the transaction, the chief executive officer now owns 353,481 shares of the company’s stock, valued at $13,958,964.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the sale, the director now directly owns 11,339 shares of the company’s stock, valued at $431,675.73. The disclosure for this sale can be found here. Insiders sold 22,099 shares of company stock worth $865,740 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Mercury Systems Stock Up 1.4 %

MRCY opened at $37.50 on Friday. The firm has a market cap of $2.23 billion, a P/E ratio of -15.96 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07. The business has a 50 day moving average price of $36.39 and a 200 day moving average price of $31.81. Mercury Systems, Inc. has a twelve month low of $25.31 and a twelve month high of $42.72.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, August 13th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.32. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. The business had revenue of $248.56 million during the quarter, compared to analysts’ expectations of $223.80 million. Research analysts forecast that Mercury Systems, Inc. will post -0.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MRCY shares. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Friday. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a report on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Truist Financial raised their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird boosted their price target on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.50.

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.