Corient Private Wealth LP Makes New Investment in Mercury Systems Inc $MRCY

Corient Private Wealth LP purchased a new position in Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,745 shares of the technology company’s stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRCY. Osaic Holdings Inc. increased its holdings in Mercury Systems by 53.2% in 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 in the last quarter. Leonteq Securities AG bought a new position in Mercury Systems during the 4th quarter valued at about $35,000. Hollencrest Capital Management purchased a new stake in shares of Mercury Systems during the 4th quarter valued at about $37,000. Federated Hermes Inc. bought a new stake in shares of Mercury Systems in the second quarter worth approximately $43,000. Finally, Rockefeller Capital Management L.P. grew its stake 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 worth $48,000 after acquiring an additional 228 shares during the period. 95.99% of the stock is owned by institutional investors.

Mercury Systems Trading Down 2.7%

Shares of Mercury Systems stock opened at $82.42 on Friday. The company has a fifty day moving average of $102.57 and a 200 day moving average of $95.00. The company has a market capitalization of $4.96 billion, a P/E ratio of -164.84 and a beta of 0.98. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week 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 posted its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $289.78 million during 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 company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, sell-side analysts anticipate that Mercury Systems Inc will post 0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In related news, EVP David Farnsworth sold 6,612 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $97.67, for a total transaction of $645,794.04. Following the sale, the executive vice president owned 117,967 shares of the company’s stock, valued at $11,521,836.89. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total transaction of $54,969.88. Following the completion of the sale, the chief accounting officer owned 13,091 shares in the company, valued at approximately $1,313,158.21. This trade represents a 4.02% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 446,186 shares of company stock worth $41,432,610. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MRCY shares. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Canaccord Genuity Group lifted their target price 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. Robert W. Baird increased their price target on Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Truist Financial increased their target price on Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $110.10.

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.