13D Management LLC Has $7.58 Million Stake in Mercury Systems Inc $MRCY

Key Points

• 13D Management LLC reduced its Mercury Systems stake by 24.3% in the fourth quarter, selling 33,250 shares and ending with 103,762 shares valued at about $7.58 million. Mercury Systems remains its second-largest holding and makes up 9.0% of the portfolio.
• Mercury Systems posted stronger-than-expected quarterly results, reporting EPS of $0.27 versus $0.06 expected and revenue of $235.76 million, above estimates. Revenue rose 11.5% year over year, and analysts now forecast full-year EPS of 0.31.
• Wall Street sentiment is mixed but tilted positive, with the consensus rating at Moderate Buy and an average target price of $91.00. Recent insider sales and varied analyst calls highlight ongoing debate about the stock’s valuation and outlook.

13D Management LLC lessened its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 24.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,762 shares of the technology company's stock after selling 33,250 shares during the quarter. Mercury Systems accounts for 9.0% of 13D Management LLC's investment portfolio, making the stock its 2nd largest position. 13D Management LLC owned approximately 0.17% of Mercury Systems worth $7,576,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB bought a new position in shares of Mercury Systems during the 4th quarter worth $4,954,000. Cresset Asset Management LLC bought a new position in shares of Mercury Systems during the 3rd quarter worth $1,862,000. Penn Capital Management Company LLC bought a new position in shares of Mercury Systems during the 3rd quarter worth $14,292,000. State of New Jersey Common Pension Fund D bought a new position in shares of Mercury Systems during the 3rd quarter worth $2,508,000. Finally, One Capital Management LLC grew its stake in shares of Mercury Systems by 43.6% during the 4th quarter. One Capital Management LLC now owns 29,300 shares of the technology company's stock worth $2,139,000 after acquiring an additional 8,893 shares during the period. Institutional investors own 95.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MRCY shares. Jefferies Financial Group reiterated a "hold" rating and set a $105.00 price target on shares of Mercury Systems in a research note on Monday, June 1st. Canaccord Genuity Group increased their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Mercury Systems Stock Performance

Shares of MRCY opened at $112.44 on Wednesday. The stock's 50-day simple moving average is $93.90 and its 200 day simple moving average is $86.57. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -468.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a 52-week low of $48.75 and a 52-week high of $122.17.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business had revenue of $235.76 million for the quarter, compared to analysts' expectations of $208.56 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Mercury Systems Inc will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president owned 32,238 shares of the company's stock, valued at $2,980,725.48. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard L. Lance sold 9,250 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,875 shares of company stock worth $2,040,874. 1.40% of the stock is currently owned by insiders.

Mercury Systems Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.