Crestline Management LP Cuts Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Crestline Management LP lowered its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 86.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,935 shares of the technology company's stock after selling 225,746 shares during the quarter. Crestline Management LP owned about 0.06% of Mercury Systems worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Mercury Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after buying an additional 41,324 shares during the period. Dimensional Fund Advisors LP boosted its position in Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after purchasing an additional 52,725 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of Mercury Systems by 55.9% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock worth $87,058,000 after purchasing an additional 743,552 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Mercury Systems by 16.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock valued at $86,526,000 after buying an additional 294,747 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock valued at $41,535,000 after acquiring an additional 333,109 shares in the last quarter. Institutional investors own 95.99% of the company's stock.

Mercury Systems Trading Up 0.3%

Shares of Mercury Systems stock traded up $0.14 during trading on Monday, hitting $46.48. The company's stock had a trading volume of 622,759 shares, compared to its average volume of 578,671. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -29.79 and a beta of 0.70. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The stock has a 50-day moving average price of $46.16 and a two-hundred day moving average price of $42.94.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. Mercury Systems's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. Equities research analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the transaction, the director now directly owns 6,861,313 shares in the company, valued at $317,472,952.51. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Douglas Munro sold 595 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $26,251.40. Following the transaction, the chief accounting officer now directly owns 14,572 shares of the company's stock, valued at $642,916.64. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,358 shares of company stock valued at $4,498,895. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MRCY shares. Royal Bank of Canada boosted their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group lifted 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. Truist Financial raised Mercury Systems from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $49.00 to $56.00 in a research note on Thursday, March 13th. Baird R W upgraded shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird raised Mercury Systems from a "neutral" rating to an "outperform" rating and upped their price target for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.71.

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.