Sei Investments Co. Reduces Stock Position in Mercury Systems Inc $MRCY

Sei Investments Co. lessened its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 1.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 370,992 shares of the technology company’s stock after selling 7,365 shares during the quarter. Sei Investments Co. owned approximately 0.62% of Mercury Systems worth $27,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. One Capital Management LLC increased its stake in Mercury Systems by 43.6% in the 4th quarter. One Capital Management LLC now owns 29,300 shares of the technology company’s stock worth $2,139,000 after buying an additional 8,893 shares during the period. Louisiana State Employees Retirement System bought a new position in Mercury Systems in the 1st quarter worth about $1,706,000. Bessemer Group Inc. increased its position in shares of Mercury Systems by 45.6% during the fourth quarter. Bessemer Group Inc. now owns 399,496 shares of the technology company’s stock worth $29,168,000 after acquiring an additional 125,194 shares during the period. UBS Group AG increased its position in shares of Mercury Systems by 4.5% during the fourth quarter. UBS Group AG now owns 251,229 shares of the technology company’s stock worth $18,342,000 after acquiring an additional 10,880 shares during the period. Finally, Swedbank AB raised its stake in shares of Mercury Systems by 722.1% during the fourth quarter. Swedbank AB now owns 38,349 shares of the technology company’s stock valued at $2,800,000 after acquiring an additional 33,684 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group lifted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Friday, July 17th. Zacks Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.78.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the transaction, the director owned 52,448 shares in the company, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 18,250 shares of company stock valued at $1,733,220. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

NASDAQ MRCY opened at $103.80 on Tuesday. The company has a market cap of $6.23 billion, a PE ratio of -432.50 and a beta of 0.93. The firm’s 50 day moving average price is $108.47 and its 200-day moving average price is $93.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a 52-week low of $50.13 and a 52-week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Sell-side analysts forecast that Mercury Systems Inc will post 0.35 EPS for the current fiscal year.

About Mercury Systems

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.