10,745 Shares in Mercury Systems Inc $MRCY Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in Mercury Systems Inc (NASDAQ:MRCY) during the second quarter, HoldingsChannel.com reports. The fund bought 10,745 shares of the technology company’s stock, valued at approximately $1,314,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Mercury Systems during the first quarter worth approximately $755,000. Goldman Sachs Group Inc. increased its holdings in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Mercury Systems by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after purchasing an additional 18,916 shares in the last quarter. Jane Street Group LLC raised its position in Mercury Systems by 161.3% during the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 31,337 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Mercury Systems by 30.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after buying an additional 29,057 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mercury Systems news, EVP David Farnsworth sold 6,612 shares of Mercury Systems stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $97.67, for a total value of $645,794.04. Following the transaction, the executive vice president directly owned 117,967 shares of the company’s stock, valued at approximately $11,521,836.89. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Douglas Munro sold 548 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total value of $54,969.88. Following the transaction, the chief accounting officer directly owned 13,091 shares in the company, valued at approximately $1,313,158.21. The trade was a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 446,186 shares of company stock valued at $41,432,610 over the last quarter. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MRCY. JPMorgan Chase & Co. raised their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 target price on shares of Mercury Systems in a report on Friday, July 10th. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Canaccord Genuity Group upped their price target on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and a consensus price target of $110.10.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $82.42 on Friday. The company has a market capitalization of $4.96 billion, a PE ratio of -164.84 and a beta of 0.98. The company has a 50-day simple moving average of $102.57 and a two-hundred day simple moving average of $95.00. Mercury Systems Inc has a one year low of $65.04 and a one year high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Mercury Systems Inc will post 0.89 EPS for the current fiscal year.

Mercury Systems 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.