The Manufacturers Life Insurance Company Raises Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

The Manufacturers Life Insurance Company boosted its holdings in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 232.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,411 shares of the technology company’s stock after purchasing an additional 20,571 shares during the period. The Manufacturers Life Insurance Company’s holdings in Mercury Systems were worth $794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in Mercury Systems during the second quarter valued at $526,000. Deerfield Management Company L.P. Series C purchased a new position in Mercury Systems in the second quarter worth about $285,000. Squarepoint Ops LLC increased its position in shares of Mercury Systems by 38.2% during the 2nd quarter. Squarepoint Ops LLC now owns 66,209 shares of the technology company’s stock valued at $1,787,000 after purchasing an additional 18,316 shares during the last quarter. Bank of Montreal Can raised its position in Mercury Systems by 89.8% in the second quarter. Bank of Montreal Can now owns 21,478 shares of the technology company’s stock worth $580,000 after acquiring an additional 10,160 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Mercury Systems by 7.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 114,899 shares of the technology company’s stock worth $3,101,000 after purchasing an additional 7,814 shares during the period. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Down 1.0 %

Shares of MRCY opened at $35.85 on Tuesday. The firm’s 50-day simple moving average is $36.87 and its 200 day simple moving average is $32.49. The firm has a market cap of $2.13 billion, a P/E ratio of -15.26 and a beta of 0.70. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $42.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.64 and a current ratio of 4.07.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results 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. The business had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. On average, analysts forecast that Mercury Systems, Inc. will post -0.52 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other news, Director Debora A. Plunkett sold 1,843 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the completion of the transaction, the director now directly owns 11,339 shares in the company, valued at $431,675.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jana Partners Management, Lp purchased 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average cost of $37.25 per share, for a total transaction of $506,600.00. Following the acquisition, the director now owns 6,944,633 shares of the company’s stock, valued at approximately $258,687,579.25. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the completion of the transaction, the director now directly owns 11,339 shares in the company, valued at approximately $431,675.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,099 shares of company stock worth $865,740. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Robert W. Baird increased their price target on Mercury Systems from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Finally, Alembic Global Advisors raised shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.50.

About Mercury Systems

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.