Allspring Global Investments Holdings LLC Sells 180,239 Shares of Mercury Systems Inc $MRCY

Allspring Global Investments Holdings LLC lowered its stake in Mercury Systems Inc (NASDAQ:MRCY) by 23.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 573,456 shares of the technology company’s stock after selling 180,239 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mercury Systems were worth $42,866,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Leonteq Securities AG bought a new position in shares of Mercury Systems in the 4th quarter valued at approximately $35,000. Hollencrest Capital Management bought a new stake in Mercury Systems during the fourth quarter worth approximately $37,000. Osaic Holdings Inc. boosted 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 worth $32,000 after purchasing an additional 208 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after purchasing an additional 228 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Mercury Systems during the second quarter valued at approximately $43,000. Institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In other news, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Insiders have sold 18,250 shares of company stock worth $1,733,220 over the last three months. Company insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $96.08 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market cap of $5.77 billion, a PE ratio of -400.33 and a beta of 0.93. The firm has a fifty day moving average price of $107.49 and a two-hundred day moving average price of $92.80. Mercury Systems Inc has a fifty-two week low of $50.13 and a fifty-two week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Mercury Systems Inc will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MRCY. Canaccord Genuity Group boosted their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Zacks Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Company 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.