Maryland State Retirement & Pension System Cuts Stock Holdings in Mercury Systems Inc $MRCY

Maryland State Retirement & Pension System cut its stake in Mercury Systems Inc (NASDAQ:MRCY) by 48.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,580 shares of the technology company’s stock after selling 7,240 shares during the period. Maryland State Retirement & Pension System’s holdings in Mercury Systems were worth $587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRCY. Nisa Investment Advisors LLC raised its position in Mercury Systems by 10.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,941 shares of the technology company’s stock valued at $150,000 after purchasing an additional 181 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Mercury Systems by 1.8% during the third quarter. Oregon Public Employees Retirement Fund now owns 11,871 shares of the technology company’s stock worth $919,000 after buying an additional 209 shares during the period. Brevan Howard Capital Management LP raised its holdings in Mercury Systems by 0.9% in the second quarter. Brevan Howard Capital Management LP now owns 22,861 shares of the technology company’s stock valued at $1,231,000 after acquiring an additional 211 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in Mercury Systems by 0.4% in the second quarter. Cerity Partners LLC now owns 57,552 shares of the technology company’s stock valued at $3,100,000 after acquiring an additional 218 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $99.48 on Friday. The company has a fifty day moving average of $77.98 and a two-hundred day moving average of $71.39. The company has a market capitalization of $5.98 billion, a PE ratio of -174.53, a P/E/G ratio of 4.41 and a beta of 0.78. Mercury Systems Inc has a 1 year low of $39.42 and a 1 year high of $103.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 2.31.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. The business had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on MRCY. UBS Group set a $88.00 price target on shares of Mercury Systems in a report on Thursday, October 2nd. Wall Street Zen cut shares of Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Royal Bank Of Canada set a $95.00 target price on shares of Mercury Systems and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Canaccord Genuity Group assumed coverage on Mercury Systems in a report on Thursday, October 2nd. They issued a “buy” rating and a $88.00 target price on the stock. Finally, Truist Financial set a $102.00 price target on Mercury Systems in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $83.25.

Insiders Place Their Bets

In other news, CAO Douglas Munro sold 1,329 shares of Mercury Systems stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $73.42, for a total value of $97,575.18. Following the transaction, the chief accounting officer directly owned 14,678 shares of the company’s stock, valued at $1,077,658.76. The trade was a 8.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the completion of the sale, the director owned 4,966,675 shares of the company’s stock, valued at approximately $374,735,628.75. This trade represents a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,003,029 shares of company stock valued at $75,673,358 over the last quarter. Company 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.