Moody National Bank Trust Division Boosts Position in Mercury Systems Inc $MRCY

Moody National Bank Trust Division lifted its position in Mercury Systems Inc (NASDAQ:MRCY) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 53,383 shares of the technology company’s stock after acquiring an additional 7,179 shares during the period. Moody National Bank Trust Division’s holdings in Mercury Systems were worth $4,431,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Mercury Systems in the 2nd quarter worth about $1,146,342,000. Deutsche Bank AG purchased a new position in shares of Mercury Systems during the second quarter valued at approximately $17,454,000. Rice Hall James & Associates LLC bought a new position in shares of Mercury Systems during the second quarter valued at approximately $4,866,000. American Capital Management Inc. purchased a new stake in shares of Mercury Systems in the second quarter worth approximately $59,460,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Mercury Systems in the first quarter worth approximately $1,706,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mercury Systems news, CEO William L. Ballhaus sold 111,076 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the sale, the chief executive officer owned 342,436 shares of the company’s stock, valued at approximately $29,833,024.32. This trade represents a 24.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Farnsworth sold 8,155 shares of Mercury Systems stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total value of $818,028.05. Following the completion of the transaction, the executive vice president owned 124,579 shares in the company, valued at $12,496,519.49. This represents a 6.14% 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. Over the last quarter, insiders have sold 451,186 shares of company stock worth $41,857,170. Insiders own 0.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. Zacks Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, Robert W. Baird lifted their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Mercury Systems Stock Down 0.2%

Shares of MRCY stock traded down $0.14 on Tuesday, hitting $82.80. The stock had a trading volume of 547,570 shares, compared to its average volume of 678,037. Mercury Systems Inc has a one year low of $65.04 and a one year high of $128.45. The business has a 50 day moving average price of $91.95 and a 200 day moving average price of $94.63. The company has a market cap of $5.04 billion, a PE ratio of -165.60 and a beta of 0.97. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29.

Mercury Systems (NASDAQ:MRCY) last issued its 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 business had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. Research analysts anticipate that Mercury Systems Inc will post 0.91 earnings per share for the current fiscal year.

Mercury Systems Profile

Mercury Systems, Inc is a technology company that develops and manufactures mission-critical solutions for the aerospace and defense industries. Its products are designed to help customers process, secure and manage data in demanding environments, including aircraft, unmanned systems, radar platforms and other defense applications.

The company’s portfolio includes embedded computing systems, high-performance processors, ruggedized servers, trusted computing products, radio-frequency and microwave components, sensor-processing technologies, avionics solutions and mission displays.