Axiom Investors LLC DE Makes New $2.91 Million Investment in Mercury Systems Inc $MRCY

Key Points

• Axiom Investors LLC DE acquired 67,625 shares of Mercury Systems Inc during the first quarter, valued at approximately $2.9 million, representing 0.11% of the company.
• Recent analyst reports have led to multiple target price increases for Mercury Systems, with Robert W. Baird setting a new target of $70.00 and Zacks Research upgrading the stock to a "strong-buy" rating.
• Mercury Systems reported a quarterly earnings per share of $0.47, significantly exceeding analysts' expectations, along with a year-over-year revenue increase of 9.9% to $273.11 million.

Axiom Investors LLC DE acquired a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 67,625 shares of the technology company's stock, valued at approximately $2,914,000. Axiom Investors LLC DE owned 0.11% of Mercury Systems as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its stake in shares of 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 valued at $97,305,000 after purchasing an additional 185,369 shares during the period. Millennium Management LLC increased its stake in Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after acquiring an additional 677,894 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Mercury Systems by 51.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after acquiring an additional 290,989 shares during the last quarter. Royal Bank of Canada increased its stake in Mercury Systems by 0.7% in the 1st quarter. Royal Bank of Canada now owns 762,406 shares of the technology company's stock worth $32,852,000 after acquiring an additional 5,170 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Mercury Systems by 2.9% in the 4th quarter. Northern Trust Corp now owns 593,455 shares of the technology company's stock worth $24,925,000 after acquiring an additional 16,674 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.

Insider Activity at Mercury Systems

In related news, EVP Steven Ratner sold 7,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $63.76, for a total transaction of $446,320.00. Following the completion of the sale, the executive vice president directly owned 33,801 shares in the company, valued at $2,155,151.76. This represents a 17.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the sale, the chief executive officer owned 374,976 shares of the company's stock, valued at $24,170,952.96. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 850,752 shares of company stock worth $55,622,679 over the last three months. Corporate insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded down $0.84 during trading on Friday, hitting $72.24. 639,069 shares of the stock traded hands, compared to its average volume of 483,603. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -109.45, a PEG ratio of 3.01 and a beta of 0.77. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $74.00. The firm's fifty day moving average is $59.83 and its 200-day moving average is $51.95. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million during the quarter, compared to analysts' expectations of $244.56 million. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.Mercury Systems's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MRCY shares. 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. Truist Financial upped their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Mercury Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Robert W. Baird increased their price objective on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Mercury Systems 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.