Allspring Global Investments Holdings LLC Raises Holdings in Mercury Systems Inc $MRCY

Allspring Global Investments Holdings LLC increased its position in Mercury Systems Inc (NASDAQ:MRCY) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 753,695 shares of the technology company’s stock after buying an additional 59,828 shares during the period. Allspring Global Investments Holdings LLC owned 1.25% of Mercury Systems worth $57,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems during the 3rd quarter worth approximately $32,000. Osaic Holdings Inc. lifted its position in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Mercury Systems in the 2nd quarter worth $43,000. AlphaQuest LLC increased its holdings in shares of Mercury Systems by 41.9% in the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Mercury Systems by 33.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after buying an additional 234 shares during the last quarter. 95.99% of the stock is owned by institutional investors.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 100,899 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total value of $9,048,622.32. Following the transaction, the director directly owned 4,114,618 shares in the company, valued at $368,998,942.24. This represents a 2.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stuart Kupinsky sold 2,287 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the transaction, the executive vice president directly owned 68,010 shares in the company, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 859,758 shares of company stock valued at $74,481,931 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

MRCY has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price objective on shares of Mercury Systems in a research note on Sunday, February 8th. Truist Financial upped their price objective on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group lifted their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Finally, Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $86.89.

Mercury Systems Stock Performance

Mercury Systems stock opened at $74.75 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The firm has a market capitalization of $4.49 billion, a P/E ratio of -141.04, a price-to-earnings-growth ratio of 7.06 and a beta of 0.84. Mercury Systems Inc has a 1-year low of $39.89 and a 1-year high of $103.84. The company’s 50-day moving average is $85.26 and its 200 day moving average is $80.09.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The business had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current year.

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.