Intech Investment Management LLC Has $3.31 Million Holdings in Mercury Systems Inc $MRCY

Intech Investment Management LLC boosted its position in Mercury Systems Inc (NASDAQ:MRCY) by 199.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,848 shares of the technology company’s stock after buying an additional 51,168 shares during the period. Intech Investment Management LLC owned approximately 0.13% of Mercury Systems worth $3,311,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MRCY. Conestoga Capital Advisors LLC grew its holdings in Mercury Systems by 8.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company’s stock worth $97,305,000 after acquiring an additional 185,369 shares during the period. Millennium Management LLC boosted its position in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after purchasing an additional 677,894 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares in the last quarter. Royal Bank of Canada grew its stake in Mercury Systems by 0.7% during the first quarter. Royal Bank of Canada now owns 762,406 shares of the technology company’s stock worth $32,852,000 after purchasing an additional 5,170 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Mercury Systems by 1,479.5% in the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock worth $21,228,000 after purchasing an additional 461,449 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MRCY. Raymond James Financial raised shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $55.00 to $80.00 in a research report on Tuesday, August 12th. Royal Bank Of Canada increased their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 3rd. Zacks Research raised shares of Mercury Systems from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, August 21st. The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a report on Wednesday, August 13th. Finally, Truist Financial raised their target price on Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mercury Systems currently has a consensus rating of “Moderate Buy” and an average price target of $60.71.

Mercury Systems Trading Down 1.1%

NASDAQ MRCY opened at $72.24 on Friday. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $51.89. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $74.00. The firm has a market capitalization of $4.34 billion, a P/E ratio of -109.45, a PEG ratio of 3.04 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. The firm had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. On average, analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Activity

In related news, EVP Stuart Kupinsky sold 1,220 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $78,641.20. Following the sale, the executive vice president directly owned 70,297 shares in the company, valued at approximately $4,531,344.62. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 850,752 shares of company stock worth $55,622,679. Corporate insiders own 1.60% of the company’s stock.

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.