American Century Companies Inc., a leading investment management firm, has recently reduced its holdings in shares of Mercury Systems, Inc. The company reported a decrease of 21.8% in the first quarter of this year, according to its latest Form 13F filing with the Securities & Exchange Commission.
The American Century Companies Inc. fund previously owned 442,244 shares of Mercury Systems’ stock but sold 123,514 shares during the quarter. This reduction resulted in the fund’s ownership decreasing to approximately 0.76% of Mercury Systems’ total worth. At the end of the most recent quarter, American Century Companies Inc.’s holdings in Mercury Systems were valued at $22,524,000.
Mercury Systems, Inc. is a prominent technology company that specializes in manufacturing and selling components, products, modules, and subsystems for aerospace and defense industries across various regions including the United States, Europe, and the Asia Pacific. The company’s solutions are widely deployed in approximately 300 programs with defense contractors and commercial aviation customers.
With its strong presence in these industries, Mercury Systems plays an essential role in supplying cutting-edge technologies that meet the demanding requirements of defense systems and aviation applications. The company’s products and solutions have garnered significant recognition and trust from its customer base.
Investors keen on staying updated about Mercury Systems’ performance can refer to our informative stock report on their latest developments. This report provides valuable insights into key aspects like financial performance, market trends, and growth prospects.
Investments made by renowned firms such as American Century Companies Inc. reflect their assessment of Mercury Systems as a promising investment opportunity within the technology sector. As demonstrated by this recent decrease in holdings by American Century Companies Inc., it is crucial for investors to regularly evaluate their portfolio compositions to align with changing market conditions and investment strategies.
As we approach August 31st, 2023 – marking the reference date for this article – it remains imperative for stakeholders to monitor the performance of Mercury Systems and recognize the potential impact of investment decisions on their portfolio. By staying informed about market trends and analyzing comprehensive reports, investors can make well-informed choices to maximize their returns in an increasingly dynamic investment landscape.
Mercury Systems, Inc. Attracts Hedge Funds and Institutional Investors while Facing Stock Price Fluctuations and Mixed Ratings
Mercury Systems, Inc., a prominent technology company catering to the aerospace and defense industries, has recently attracted the attention of various hedge funds and institutional investors. Notably, Dark Forest Capital Management LP has significantly increased its stake in Mercury Systems by 122.6% during the fourth quarter of last year. This move has resulted in Dark Forest Capital Management LP now owning 641 shares of the company’s stock worth $29,000 after acquiring an additional 353 shares in the last quarter. Similarly, Point72 Middle East FZE made a new stake in Mercury Systems during the same period, acquiring shares worth $35,000.
Deutsche Bank AG also seized an opportunity to increase its stake in Mercury Systems during the fourth quarter. The bank now owns 2,177 shares of the technology company’s stock with a value of $97,000 after acquiring an additional 1,861 shares. Another notable investor, Captrust Financial Advisors, augmented their stake by 60.7% during the first quarter. Captrust Financial Advisors currently possesses 1,573 shares of Mercury Systems’ stock worth $101,000 after acquiring an additional 594 shares. Lastly, Advisor Group Holdings Inc., another major institutional investor increased its stake by 7% during the fourth quarter by purchasing an additional 193 shares valued at $132,000. It is noteworthy that institutional investors and hedge funds now collectively own approximately 95.99% of Mercury Systems’ stock.
Several research firms have provided analysis on MRCY’s performance lately as well. Robert W. Baird lowered their price target on Mercury Systems from $30 to $25 while maintaining a “neutral” rating for the company in their research report released on August 16th this year. Raymond James also decreased their target price for MRCY from $55 to $40 on June 26th this year.
Further analysis on MRCY can be seen with StockNews.com’s downgrade from a “hold” rating to a “sell” rating on August 16th. Royal Bank of Canada also decreased their price target from $40 to $35 on the same day while issuing a “sector perform” rating for the company. With the combination of these ratings, Mercury Systems currently holds a consensus rating of “Hold” and an average price target of $41.71 according to data from Bloomberg.
Mercury Systems, Inc., primarily operating in the United States, Europe, and the Asia Pacific region, focuses on manufacturing and selling components, products, modules, and subsystems for aerospace and defense industries. Their wide range of products and solutions is deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.
At present, MRCY stock opened at $39.61 on August 31st. The company boasts a quick ratio of 2.57 and current ratio of 4.02, indicating good liquidity positions. Additionally, it maintains a debt-to-equity ratio of 0.33 which signifies sound financial management strategies. The fluctuation points out that its 50-day moving average stands at $36.22 while its 200-day moving average stands at $42.99.
Investors may take note that Mercury Systems experienced a significant drop within its stock’s trading range over the past year with its lowest point being recorded at $28.90 per share and its highest reaching an impressive $59.13 per share during this period.
The market capitalization of Mercury Systems currently amounts to $2.30 billion while it reports a negative PE ratio (-77.67). A higher PE ratio indicates higher investor confidence compared to one that is lower or even negative such as that reported here.
In recent news related to Mercury Systems, there have been significant transactions involving both shares bought by Director Jana Partners LLC as well as shares sold by EVP Christopher C Cambria. On Friday, August 18th Jana Partners LLC acquired 50,000 shares of the company’s stock at an average price of $38.05 per share, amounting to a total transaction value of $1,902,500. Following this transaction, the director now owns approximately 4,711,386 shares with a total value of around $179,268,237.30.
Moreover, EVP Christopher C Cambria sold 712 shares on Thursday August 17th at an average price of $36.83 per share for a total value of $26,222.96. After this sale, the executive vice president currently retains approximately 115,855 shares in the company which are valued at about $4,266,939.65.
Notably, within the last three months alone insiders have sold shares worth $45,165 amounting to a total of 1,231 shares sold. Overall insiders hold approximately 2.10% of Mercury Systems’ stock.
In conclusion, though Mercury Systems has recently faced some challenges such as fluctuations in its stock prices and mixed ratings by research firms like Robert W. Baird and StockNews.com; it continues to be an important player in the aerospace and defense industries with its wide range of products and