Agman Capital LLC Invests $8.97 Million in Mercury Systems Inc $MRCY

Key Points

• Agman Capital LLC opened a new position in Mercury Systems, buying 122,836 shares valued at about $8.97 million. The stake now represents roughly 7.6% of Agman’s portfolio and about 0.20% of Mercury Systems.
• Institutional ownership remains very high, with hedge funds and other investors holding about 95.99% of the company. Several other funds also increased their positions in the latest quarter.
• Mercury Systems has seen mixed signals from analysts and insiders: the stock has a consensus rating of Moderate Buy with a $91 average price target, while company insiders have recently sold shares. The company also beat quarterly earnings and revenue estimates in its latest report.

Agman Capital LLC purchased a new position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 122,836 shares of the technology company's stock, valued at approximately $8,968,000. Mercury Systems accounts for approximately 7.6% of Agman Capital LLC's investment portfolio, making the stock its 4th largest holding. Agman Capital LLC owned about 0.20% of Mercury Systems at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of Mercury Systems by 15.4% during the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company's stock worth $59,000 after acquiring an additional 107 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Mercury Systems by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company's stock valued at $555,000 after purchasing an additional 142 shares in the last quarter. AlphaQuest LLC increased its stake in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock valued at $44,000 after purchasing an additional 168 shares in the last quarter. GAMMA Investing LLC increased its stake in Mercury Systems by 11.3% during the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company's stock valued at $130,000 after purchasing an additional 181 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company's stock valued at $880,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Mercury Systems

In other news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,875 shares of company stock worth $2,040,874 in the last ninety days. Company insiders own 1.40% of the company's stock.

Mercury Systems Trading Up 0.8%

NASDAQ MRCY opened at $120.30 on Friday. The firm has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $85.80. 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 one year low of $48.75 and a one year high of $121.37. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of -501.25 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Mercury Systems Company 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.

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