Legal & General Group Plc Makes New $15.45 Million Investment in Mercury Systems Inc $MRCY

Legal & General Group Plc acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 126,258 shares of the technology company’s stock, valued at approximately $15,445,000.

Other hedge funds also recently modified their holdings of the company. Osaic Holdings Inc. boosted its holdings in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares during the period. Leonteq Securities AG acquired a new stake in Mercury Systems during the fourth quarter worth approximately $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems during the fourth quarter worth approximately $37,000. Federated Hermes Inc. acquired a new position in shares of Mercury Systems in the second quarter valued at approximately $43,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Mercury Systems by 53.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Stuart Kupinsky sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $95.23, for a total value of $95,230.00. Following the sale, the executive vice president directly owned 56,352 shares of the company’s stock, valued at $5,366,400.96. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Douglas Munro sold 548 shares of Mercury Systems stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total value of $54,969.88. Following the completion of the transaction, the chief accounting officer owned 13,091 shares in the company, valued at approximately $1,313,158.21. This represents a 4.02% 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. Insiders sold a total of 446,186 shares of company stock valued at $41,432,610 over the last ninety days. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MRCY. Truist Financial lifted their price target on Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $110.10.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $88.54 on Monday. The firm has a 50 day moving average of $105.02 and a 200-day moving average of $95.02. The stock has a market capitalization of $5.32 billion, a PE ratio of -177.08 and a beta of 0.95. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results 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). The firm had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. On average, equities research analysts predict that Mercury Systems Inc will post 0.88 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.