Mercury Systems Inc $MRCY Position Lessened by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lowered its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 53.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,907 shares of the technology company’s stock after selling 18,310 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Mercury Systems were worth $1,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRCY. Public Sector Pension Investment Board lifted its stake in Mercury Systems by 18.7% in the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock valued at $15,917,000 after buying an additional 32,443 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Mercury Systems by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 156,605 shares of the technology company’s stock worth $12,121,000 after acquiring an additional 859 shares during the period. Bessemer Group Inc. increased its holdings in shares of Mercury Systems by 118,133.6% in the 3rd quarter. Bessemer Group Inc. now owns 274,302 shares of the technology company’s stock worth $21,232,000 after acquiring an additional 274,070 shares during the period. Envestnet Asset Management Inc. lifted its position in Mercury Systems by 22.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,781 shares of the technology company’s stock valued at $1,531,000 after purchasing an additional 3,676 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Mercury Systems during the 3rd quarter valued at about $144,000. 95.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mercury Systems news, Director Jana Partners Management, Lp sold 400,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the completion of the sale, the director directly owned 4,566,675 shares of the company’s stock, valued at approximately $369,900,675. This represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

MRCY has been the subject of several recent analyst reports. Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Truist Financial boosted their price objective on Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group raised their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, January 20th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and an average target price of $86.89.

Mercury Systems Stock Performance

MRCY opened at $82.36 on Friday. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of -155.40, a price-to-earnings-growth ratio of 6.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. Mercury Systems Inc has a 1-year low of $39.89 and a 1-year high of $103.84. The business has a 50 day moving average price of $84.71 and a two-hundred day moving average price of $75.60.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.