Man Group plc Purchases New Shares in Mercury Systems Inc $MRCY

Man Group plc purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 110,597 shares of the technology company’s stock, valued at approximately $13,529,000.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in shares of Mercury Systems during the 1st quarter worth approximately $755,000. Goldman Sachs Group Inc. grew its holdings in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Mercury Systems by 13.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after acquiring an additional 18,916 shares during the last quarter. Jane Street Group LLC lifted its holdings in Mercury Systems by 161.3% during the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after acquiring an additional 31,337 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Mercury Systems by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after acquiring an additional 29,057 shares during the period. 95.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Mercury Systems news, CEO William L. Ballhaus sold 111,076 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the sale, the chief executive officer owned 342,436 shares of the company’s stock, valued at $29,833,024.32. The trade was a 24.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David E. Farnsworth sold 8,155 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total value of $818,028.05. Following the sale, the executive vice president owned 124,579 shares in the company, valued at approximately $12,496,519.49. This represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 446,186 shares of company stock valued at $41,432,610 over the last quarter. 1.40% of the stock is owned by company insiders.

Mercury Systems Trading Up 0.8%

Shares of Mercury Systems stock opened at $90.47 on Friday. The stock has a market capitalization of $5.44 billion, a P/E ratio of -180.94 and a beta of 0.95. Mercury Systems Inc has a 52-week low of $65.04 and a 52-week high of $128.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The stock’s 50-day simple moving average is $105.53 and its 200 day simple moving average is $95.00.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. During the same quarter in the prior year, the business earned $0.47 EPS. Mercury Systems’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Mercury Systems Inc will post 0.88 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MRCY. The Goldman Sachs Group upped their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Royal Bank Of Canada boosted their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. increased their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. Finally, Robert W. Baird lifted their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and an average target price of $110.10.

About Mercury Systems

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.