Van ECK Associates Corp Cuts Position in Mercury Systems Inc $MRCY

Van ECK Associates Corp decreased its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 10.4% in the second quarter, HoldingsChannel.com reports. The firm owned 762,994 shares of the technology company’s stock after selling 88,151 shares during the quarter. Van ECK Associates Corp’s holdings in Mercury Systems were worth $93,337,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Mercury Systems during the 4th quarter worth approximately $35,000. Hollencrest Capital Management purchased a new position in shares of Mercury Systems during the 4th quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new stake in Mercury Systems in the 2nd quarter valued at $43,000. Finally, Federated Hermes Inc. acquired a new stake in Mercury Systems in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Robert W. Baird upped their price target 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. Royal Bank Of Canada lifted their price objective on Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Zacks Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Truist Financial increased their target price on Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $110.10.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP David E. Farnsworth sold 8,155 shares of Mercury Systems stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the transaction, the executive vice president directly owned 124,579 shares of the company’s stock, valued at $12,496,519.49. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William L. Ballhaus sold 111,076 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 342,436 shares in the company, valued at $29,833,024.32. The trade was a 24.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 446,186 shares of company stock worth $41,432,610 over the last ninety days. 1.40% of the stock is owned by insiders.

Mercury Systems Stock Down 2.1%

Shares of MRCY opened at $88.54 on Friday. Mercury Systems Inc has a 52-week low of $65.04 and a 52-week high of $128.45. The company has a market capitalization of $5.32 billion, a PE ratio of -177.08 and a beta of 0.95. The stock has a fifty day simple moving average of $105.02 and a two-hundred day simple moving average of $94.95. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29.

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

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.