In a recent disclosure with the Securities and Exchange Commission (SEC), Brown Brothers Harriman & Co. revealed that it has significantly increased its holdings in Mercury Systems, Inc. The investment firm acquired an additional 50,712 shares of the technology company’s stock during the first quarter, resulting in a 670.4% increase in their holdings. At the end of the period, Brown Brothers Harriman & Co. owned a total of 58,277 shares worth $2,979,000.
Mercury Systems is a prominent technology company that specializes in manufacturing and selling components, products, modules, and subsystems for aerospace and defense industries. Its operations extend across the United States, Europe, and the Asia Pacific region. The company’s products and solutions are utilized within approximately 300 programs involving 25 defense contractors and commercial aviation customers.
Despite its notable position in the technology industry, Mercury Systems has recently faced scrutiny from analysts. StockNews.com downgraded its rating on the company from “hold” to “sell” on August 16th. Moreover, Robert W. Baird lowered the price target for Mercury Systems’ shares from $30.00 to $25.00 while maintaining a “neutral” rating on the stock. Raymond James also reduced their price target from $55.00 to $40.00 during their research report on June 26th.
TheStreet further influenced negative sentiment towards Mercury Systems when they downgraded its rating from “c-” to “d+” on August 15th. However, Truist Financial upheld confidence in the company by reaffirming their “buy” rating and setting a price objective of $48.00 per share.
Overall, analyst opinion regarding Mercury Systems remains mixed with one recommending sellers and five suggesting holding positions while two maintain buy recommendations for investors. Bloomberg.com reports that based on this data, Mercury Systems currently holds an average rating of “Hold” with a consensus target price of $41.71.
This recent disclosure of increased holdings by Brown Brothers Harriman & Co. in Mercury Systems highlights the investment firm’s confidence in the company’s future prospects. As public discourse surrounding the technology company continues, investors will closely monitor any developments that could impact its performance in the market.
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Recent Developments in Mercury Systems Stock and the Role of Hedge Funds
Mercury Systems, Inc. is a prominent technology company that specializes in manufacturing and selling components, products, modules, and subsystems for the aerospace and defense industries. With operations spanning across the United States, Europe, and the Asia Pacific region, the company’s products and solutions have been deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.
In recent news, there have been significant developments related to Mercury Systems’ stock. Several hedge funds have either increased or reduced their stakes in the business, showcasing a level of volatility within the financial market that accompanies such transactions. Notable examples include Advisor Group Holdings Inc., Truist Financial Corp, Captrust Financial Advisors, American International Group Inc., and Dark Forest Capital Management LP.
Advisor Group Holdings Inc. raised its stake in Mercury Systems by 7.0% during the fourth quarter of the previous year. The company now owns 2,960 shares of the technology company’s stock valued at $132,000 after acquiring an additional 193 shares in the last quarter. Truist Financial Corp also showed an increase of 4.2% in holdings during the fourth quarter by owning 6,173 shares valued at $276,000 after purchasing an additional 247 shares.
Moreover, Captrust Financial Advisors witnessed a significant rise of 22.0% in holdings during the second quarter. The firm now owns 1,919 shares of Mercury Systems’ stock valued at $123,000 after acquiring an additional 346 shares in that same time period.
American International Group Inc., on the other hand experienced a smaller increase of its holdings by 0.4% during the first quarter to a total value of $6,196,000 after buying an additional 348 shares.
Finally, Dark Forest Capital Management LP remarkably increased its holdings by 122.6% during the fourth quarter to a total ownership of 641 shares valued at $29,000 after purchasing an additional 353 shares.
It is currently estimated that approximately 98.21% of Mercury Systems’ stock is owned by hedge funds and other institutional investors which further highlights the perplexing nature of the financial market.
Regarding the recent trading activities of MRCY stock, it saw an increase of $0.60 during trading hours on Friday, reaching a price of $39.27. The company’s stock recorded a trading volume of 198,810 shares, which is relatively lower than its average volume of 537,485 shares.
Mercury Systems has had a fluctuating performance in terms of stock prices over the past year. On one hand, it attained its twelve month-high at $59.13 while on the other hand it experienced its twelve month-low at $28.90. Currently, the company has a fifty-day moving average of $36.10 and a 200-day moving average of $43.47.
Despite these changes in stock prices, Mercury Systems remains dedicated to providing cutting-edge products and solutions for the aerospace and defense industries. With its extensive portfolio and strong partnerships with defense contractors and commercial aviation customers, the company continues to position itself as a leader in its field.
In a recent notable event, CEO William L. Ballhaus acquired 39,925 shares of Mercury Systems’ stock on August 18th at an average cost of $37.57 per share, resulting in a total transaction value worth $1,499,982.25. Following this acquisition, Ballhaus now directly owns 291,999 shares valued at approximately $10,970-402.43.
The SEC filing revealed that EVP Christopher C. Cambria sold 712 shares of Mercury Systems’ stock on August 17th at an average price of $36.83 per share for a total value of $26-222-96.
Overall insider activity indicates that insiders have sold 1,231 shares of company stock worth $45,165 within the last ninety days. With insiders currently owning 2.10% of the company’s stock, it is clear that they play a significant role in shaping Mercury Systems’ trajectory.
As developments continue to unfold within the financial market and as Mercury Systems maneuvers through new ventures and acquisitions, investors and stakeholders are eagerly waiting to see how these factors will impact the future performance of the company. With its strong presence in the aerospace and defense industries, Mercury Systems remains an intriguing entity to watch in the coming months.
