Teacher Retirement System of Texas Invests $319,000 in Mercury Systems Inc (NASDAQ:MRCY)

Teacher Retirement System of Texas purchased a new position in Mercury Systems Inc (NASDAQ:MRCY) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 7,409 shares of the technology company’s stock, valued at approximately $319,000.

Other institutional investors also recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the 4th quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp lifted its stake in Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Mercury Systems during the fourth quarter valued at approximately $204,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director owned 6,861,313 shares in the company, valued at $317,472,952.51. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total transaction of $185,648.40. Following the transaction, the executive vice president owned 56,187 shares in the company, valued at approximately $2,680,119.90. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,883 shares of company stock worth $4,362,791. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the subject of several recent research reports. The Goldman Sachs Group increased their target price on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. increased their target price on shares of Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Truist Financial increased their target price on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada increased their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $50.29.

Mercury Systems Stock Down 1.0%

Shares of NASDAQ:MRCY opened at $51.69 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. The company has a market cap of $3.09 billion, a PE ratio of -46.15, a price-to-earnings-growth ratio of 2.45 and a beta of 0.71. Mercury Systems Inc has a 52 week low of $31.66 and a 52 week high of $54.32. The firm has a 50 day simple moving average of $50.25 and a 200 day simple moving average of $46.71.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, research analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Mercury Systems Company 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.