US Bancorp DE Boosts Holdings in Mercury Systems Inc $MRCY

US Bancorp DE grew its position in Mercury Systems Inc (NASDAQ:MRCY) by 43.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,489 shares of the technology company’s stock after purchasing an additional 749 shares during the quarter. US Bancorp DE’s holdings in Mercury Systems were worth $107,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in 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. lifted its stake in shares of Mercury Systems by 11.8% during the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company’s stock worth $11,848,000 after buying an additional 29,074 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mercury Systems during the fourth quarter valued at $241,000. Calamos Advisors LLC acquired a new position in shares of Mercury Systems in the 1st quarter valued at $848,000. Finally, GAMMA Investing LLC raised its stake in Mercury Systems by 6,776.2% in the 1st quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company’s stock worth $1,964,000 after acquiring an additional 44,926 shares during the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $66.70 on Monday. The stock’s 50-day moving average price is $53.25 and its 200 day moving average price is $48.64. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $4.00 billion, a PE ratio of -101.06, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week high of $69.95.

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

Wall Street Analyst Weigh In

MRCY has been the topic of a number of research reports. Raymond James Financial upgraded shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. Robert W. Baird upped their price target on shares of Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Royal Bank Of Canada lifted their price objective on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. Truist Financial upped their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group raised their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.13.

Insider Activity

In other news, EVP Steven Ratner sold 1,839 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.48, for a total transaction of $98,349.72. Following the transaction, the executive vice president directly owned 35,174 shares of the company’s stock, valued at $1,881,105.52. This represents a 4.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the transaction, the director owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Mercury Systems Company Profile

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.