Washington Capital Management Inc. Increases Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Washington Capital Management Inc. grew its stake in Mercury Systems, Inc. (NASDAQ:MRCYFree Report) by 49.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,900 shares of the technology company’s stock after buying an additional 4,600 shares during the period. Washington Capital Management Inc.’s holdings in Mercury Systems were worth $508,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. JANA Partners Management LP acquired a new stake in Mercury Systems during the 3rd quarter worth $174,518,000. Starboard Value LP acquired a new stake in shares of Mercury Systems in the 1st quarter worth $230,973,000. Jana Partners LLC increased its holdings in shares of Mercury Systems by 120.5% in the 2nd quarter. Jana Partners LLC now owns 4,394,641 shares of the technology company’s stock valued at $152,011,000 after purchasing an additional 2,401,242 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Mercury Systems by 25.6% in the 3rd quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock valued at $250,341,000 after purchasing an additional 1,376,905 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Mercury Systems by 218.0% in the 1st quarter. Invesco Ltd. now owns 720,322 shares of the technology company’s stock valued at $46,425,000 after purchasing an additional 493,801 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Stock Performance

MRCY opened at $29.50 on Friday. The firm’s 50 day moving average is $29.45 and its 200-day moving average is $33.56. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $52.95. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCYGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). The firm had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $215.41 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. On average, equities research analysts predict that Mercury Systems, Inc. will post -1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Barry R. Nearhos purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $95,025. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Barry R. Nearhos purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at $95,025. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Ballhaus purchased 3,653 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $28.22 per share, with a total value of $103,087.66. Following the purchase, the chief executive officer now owns 3,653 shares of the company’s stock, valued at approximately $103,087.66. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

MRCY has been the subject of several recent research reports. Royal Bank of Canada dropped their target price on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Truist Financial cut shares of Mercury Systems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $48.00 to $28.00 in a research note on Wednesday, February 7th. Jefferies Financial Group cut shares of Mercury Systems from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $35.00 to $30.00 in a research report on Wednesday, January 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $29.88.

Read Our Latest Stock Analysis on MRCY

About Mercury Systems

(Free Report)

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.

See Also

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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