Wealth Enhancement Advisory Services LLC Makes New Investment in Mercury Systems, Inc. (NASDAQ:MRCY)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,730 shares of the technology company’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Mercury Systems by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company’s stock valued at $10,327,000 after buying an additional 7,512 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Mercury Systems in the 4th quarter valued at about $225,000. Ieq Capital LLC bought a new stake in shares of Mercury Systems in the 4th quarter valued at about $241,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Mercury Systems by 108.7% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 12,336 shares of the technology company’s stock valued at $518,000 after buying an additional 6,426 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new stake in shares of Mercury Systems in the 4th quarter valued at about $16,601,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $49.53 on Tuesday. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $54.32. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.96 billion, a P/E ratio of -31.75 and a beta of 0.68. The company has a 50 day moving average price of $48.67 and a 200 day moving average price of $44.82.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The company had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. During the same period last year, the firm posted ($0.26) EPS. Mercury Systems’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a report on Monday, May 12th. Royal Bank of Canada raised their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. Truist Financial increased their price objective on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.57.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now directly owns 56,187 shares of the company’s stock, valued at approximately $2,680,119.90. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director now directly owns 6,861,313 shares of the company’s stock, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Mercury Systems Profile

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.