BNP Paribas Financial Markets Raises Holdings in Mercury Systems Inc $MRCY

BNP Paribas Financial Markets grew its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 777.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 164,463 shares of the technology company’s stock after buying an additional 145,717 shares during the quarter. BNP Paribas Financial Markets’ holdings in Mercury Systems were worth $12,007,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Mercury Systems by 15.4% during the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock worth $59,000 after purchasing an additional 107 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Mercury Systems by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company’s stock worth $555,000 after buying an additional 142 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Mercury Systems by 11.3% during the fourth quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock worth $130,000 after buying an additional 181 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Mercury Systems by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock worth $880,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reissued a “hold” rating and set a $105.00 price target on shares of Mercury Systems in a report on Monday, June 1st. The Goldman Sachs Group raised their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Truist Financial raised Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group raised their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Price Performance

MRCY stock opened at $111.27 on Monday. The firm has a 50 day moving average of $88.28 and a 200-day moving average of $84.31. Mercury Systems Inc has a 12-month low of $48.75 and a 12-month high of $118.57. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -463.63 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (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 company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same period last year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts expect that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 completion of the transaction, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,875 shares of company stock valued at $2,040,874. 1.40% of the stock is currently owned by company insiders.

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.