Algert Global LLC Buys Shares of 45,850 Mercury Systems Inc $MRCY

Key Points

• Algert Global LLC invested approximately $1.98 million in Mercury Systems Inc, acquiring 45,850 shares during the first quarter, representing about 0.08% ownership of the company.
• Recent analyst ratings show a diverse sentiment, with target price increases; for instance, Truist Financial raised its target to $71.00 while Goldman Sachs set it at $39.00 with a "sell" rating.
• Mercury Systems reported a 9.9% year-over-year increase in quarterly revenue, reaching $273.11 million and exceeding analyst expectations of $244.56 million.

Algert Global LLC bought a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 45,850 shares of the technology company's stock, valued at approximately $1,976,000. Algert Global LLC owned 0.08% of Mercury Systems at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRCY. Millennium Management LLC increased its position in Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after purchasing an additional 677,894 shares during the period. First Trust Advisors LP increased its position in Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after purchasing an additional 333,109 shares during the period. Nuveen LLC acquired a new position in Mercury Systems during the 1st quarter worth approximately $8,751,000. Conestoga Capital Advisors LLC increased its position in 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 worth $97,305,000 after purchasing an additional 185,369 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Mercury Systems in the fourth quarter valued at about $4,258,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MRCY. Robert W. Baird raised their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. upped their price target on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Royal Bank Of Canada upped their price target on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. Finally, Raymond James Financial upgraded Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Mercury Systems presently has an average rating of "Moderate Buy" and an average target price of $60.71.

Mercury Systems Price Performance

Shares of MRCY traded up $0.49 on Wednesday, reaching $68.13. The stock had a trading volume of 565,034 shares, compared to its average volume of 818,520. The firm has a market capitalization of $4.08 billion, a PE ratio of -103.23, a PEG ratio of 2.78 and a beta of 0.72. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $55.56 and a 200 day moving average of $49.79. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $69.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.26. The business had revenue of $273.11 million for 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%.The company's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Sell-side analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Insider Activity

In other Mercury Systems news, EVP David E. Farnsworth sold 7,572 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $488,091.12. Following the sale, the executive vice president owned 161,326 shares in the company, valued at approximately $10,399,073.96. This represents a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction on 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 in the company, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 850,752 shares of company stock worth $55,622,679 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

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.