Staley Capital Advisers Inc. Sells 58,820 Shares of Mercury Systems Inc $MRCY

by · The Markets Daily

Staley Capital Advisers Inc. cut its stake in Mercury Systems Inc (NASDAQ:MRCY – Free Report) by 12.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 411,310 shares of the technology company’s stock after selling 58,820 shares during the quarter. Mercury Systems comprises approximately 1.3% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 26th biggest position. Staley Capital Advisers Inc.’s holdings in Mercury Systems were worth $31,835,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Mercury Systems by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock worth $443,582,000 after purchasing an additional 221,093 shares during the period. State Street Corp lifted its position in Mercury Systems by 8.7% during the second quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after purchasing an additional 259,388 shares during the period. Bamco Inc. NY grew its stake in Mercury Systems by 3.2% during the second quarter. Bamco Inc. NY now owns 1,234,801 shares of the technology company’s stock worth $66,506,000 after buying an additional 38,755 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Mercury Systems by 321.7% in the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after buying an additional 757,216 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Mercury Systems by 21.3% in the 3rd quarter. Fisher Asset Management LLC now owns 875,279 shares of the technology company’s stock valued at $67,747,000 after buying an additional 153,946 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MRCY. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Truist Financial raised their target price on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 price target on shares of Mercury Systems in a research note on Sunday, February 8th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $86.89.

Get Our Latest Analysis on MRCY

Insider Buying and Selling at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,287 shares of Mercury Systems stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $191,101.72. Following the sale, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Douglas Munro sold 582 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $48,631.92. Following the completion of the transaction, the chief accounting officer owned 14,328 shares of the company’s stock, valued at approximately $1,197,247.68. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 407,701 shares of company stock worth $33,069,685 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Down 0.6%

Shares of MRCY opened at $89.03 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. Mercury Systems Inc has a 52 week low of $39.89 and a 52 week high of $103.84. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of -167.98, a PEG ratio of 8.62 and a beta of 0.75. The stock has a fifty day moving average of $87.67 and a 200-day moving average of $78.12.

Mercury Systems (NASDAQ:MRCY – Get Free Report) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $209.96 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

About Mercury Systems

(Free Report)

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.

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