67,625 Shares in Mercury Systems Inc $MRCY Acquired by Axiom Investors LLC DE

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 purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 67,625 shares of the technology company's stock, valued at approximately $2,914,000. Axiom Investors LLC DE owned approximately 0.11% of Mercury Systems as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new position in Mercury Systems during the 4th quarter worth approximately $33,000. GAMMA Investing LLC lifted its position in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after acquiring an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its position in Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after acquiring an additional 451 shares in the last quarter. Nkcfo LLC acquired a new position in Mercury Systems during the 1st quarter worth approximately $72,000. Finally, US Bancorp DE lifted its position in Mercury Systems by 43.0% during the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock worth $107,000 after acquiring an additional 749 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRCY has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research raised Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. upped their target price on Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, August 12th. Truist Financial upped their target price on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.71.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $68.68 on Tuesday. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $70.76. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of -104.06, a price-to-earnings-growth ratio of 2.87 and a beta of 0.77. The business has a 50 day simple moving average of $58.19 and a 200-day simple moving average of $51.16.

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

Insider Activity

In related news, EVP Stuart Kupinsky sold 1,220 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $78,641.20. Following the completion of the transaction, the executive vice president directly owned 70,297 shares in the company, valued at $4,531,344.62. This represents a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $488,091.12. Following the transaction, the executive vice president owned 161,326 shares of the company's stock, valued at approximately $10,399,073.96. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 850,752 shares of company stock worth $55,622,679 over the last 90 days. Insiders own 1.60% of the company's stock.

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.

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