Connor Clark & Lunn Investment Management Ltd. Makes New $1.62 Million Investment in Mercury Systems Inc $MRCY

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Mercury Systems Inc (NASDAQ:MRCY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,001 shares of the technology company’s stock, valued at approximately $1,616,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of Mercury Systems at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MRCY. Conestoga Capital Advisors LLC lifted its holdings in shares of Mercury Systems by 13.3% during the second quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock worth $137,824,000 after buying an additional 300,749 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Mercury Systems by 51.6% during the first 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 increased its holdings in Mercury Systems by 0.7% in the first quarter. Royal Bank of Canada now owns 762,406 shares of the technology company’s stock valued at $32,852,000 after purchasing an additional 5,170 shares during the period. MetLife Investment Management LLC lifted its position in shares of Mercury Systems by 1,479.5% in the 1st 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 during the period. Finally, Emerald Advisers LLC bought a new stake in Mercury Systems during the second quarter valued at $24,599,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $70.85 on Monday. The stock has a market capitalization of $4.26 billion, a P/E ratio of -107.35, a P/E/G ratio of 3.17 and a beta of 0.79. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12-month low of $37.28 and a 12-month high of $85.33. The stock has a 50-day moving average price of $76.31 and a 200 day moving average price of $61.93.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share (EPS) for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The firm had revenue of $256.86 million for the quarter. Equities research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Activity

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the transaction, the chief executive officer directly owned 374,976 shares of the company’s stock, valued at $24,170,952.96. This trade represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Debora A. Plunkett sold 1,700 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the completion of the sale, the director owned 16,833 shares in the company, valued at approximately $1,245,473.67. This trade represents a 9.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,034,049 shares of company stock worth $77,668,606. 1.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group started coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They set a “buy” rating and a $88.00 price target for the company. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday, November 5th. The Goldman Sachs Group upped their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mercury Systems currently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

About Mercury Systems

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.