Jupiter Topco LLC Invests $4.19 Million in Mercury Systems Inc $MRCY

Jupiter Topco LLC purchased a new stake in Mercury Systems Inc (NASDAQ:MRCY) in the second quarter, Holdings Channel.com reports. The fund purchased 34,273 shares of the technology company’s stock, valued at approximately $4,189,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRCY. AQR Capital Management LLC purchased a new stake in Mercury Systems during the first quarter worth about $755,000. Goldman Sachs Group Inc. increased its holdings in Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after buying an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 acquiring an additional 18,916 shares during the period. Jane Street Group LLC lifted its position in shares of 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 acquiring an additional 31,337 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Mercury Systems by 30.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after acquiring an additional 29,057 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Trading Down 5.2%

Shares of MRCY opened at $82.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. Mercury Systems Inc has a 1-year low of $65.04 and a 1-year high of $128.45. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -165.60 and a beta of 0.98. The firm has a 50 day simple moving average of $103.97 and a 200-day simple moving average of $95.06.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. Mercury Systems’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. Equities analysts forecast that Mercury Systems Inc will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada upped their target price on Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Piper Sandler restated an “overweight” rating and issued a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Finally, Weiss Ratings raised Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $110.10.

Insiders Place Their Bets

In related news, EVP Steven Ratner sold 356 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $91.36, for a total value of $32,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Douglas Munro sold 548 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $54,969.88. Following the completion of the transaction, the chief accounting officer directly owned 13,091 shares of the company’s stock, valued at $1,313,158.21. The trade was a 4.02% decrease in their position. 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 three months, insiders sold 446,186 shares of company stock valued at $41,432,610. Insiders own 1.40% of the company’s stock.

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.