LPL Financial LLC Purchases 76,549 Shares of Mercury Systems Inc (NASDAQ:MRCY)

LPL Financial LLC increased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 145.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,295 shares of the technology company’s stock after acquiring an additional 76,549 shares during the quarter. LPL Financial LLC owned about 0.22% of Mercury Systems worth $5,486,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MRCY. Sterling Capital Management LLC grew its position in Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after purchasing an additional 1,449 shares during the last quarter. Principal Financial Group Inc. grew its position in Mercury Systems by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock worth $11,848,000 after purchasing an additional 29,074 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Mercury Systems during the 4th quarter worth approximately $241,000. Calamos Advisors LLC purchased a new stake in Mercury Systems during the 1st quarter worth approximately $848,000. Finally, GAMMA Investing LLC grew its position in Mercury Systems by 6,776.2% during the 1st quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company’s stock worth $1,964,000 after purchasing an additional 44,926 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

MRCY opened at $68.02 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.44 and a quick ratio of 2.25. The firm has a fifty day moving average price of $52.35 and a 200 day moving average price of $48.03. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $68.33. The stock has a market cap of $4.06 billion, a P/E ratio of -103.06, a P/E/G ratio of 2.51 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm had revenue of $273.11 million during the quarter, compared to analysts’ expectations of $244.56 million. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Raymond James Financial raised shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $55.00 to $80.00 in a research report on Tuesday. Robert W. Baird upped their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial upped their price objective on shares of Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank Of Canada upped their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Thursday, July 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

Insider Activity

In related news, EVP Steven Ratner sold 1,839 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the transaction, the executive vice president directly owned 35,174 shares in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.