Bayforest Capital Ltd Makes New Investment in Mercury Systems Inc $MRCY

Key Points

• Bayforest Capital Ltd has purchased a new stake in Mercury Systems Inc, acquiring 14,836 shares valued at approximately $799,000 during the second quarter.
• Mercury Systems recently reported a positive EPS of $0.64 for the quarter with revenue reaching $256.86 million, while analysts predict a negative earnings per share for the current year.
• Institutional investors own nearly 96% of Mercury Systems' stock, and insider sales recently involved significant share transactions, indicating ongoing adjustments in ownership.

Bayforest Capital Ltd bought a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,836 shares of the technology company's stock, valued at approximately $799,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp boosted its position in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after acquiring an additional 451 shares during the period. Nkcfo LLC acquired a new position in Mercury Systems in the first quarter valued at about $72,000. US Bancorp DE raised its stake in Mercury Systems by 43.0% in the first quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock valued at $107,000 after purchasing an additional 749 shares in the last quarter. Finally, Hilltop National Bank acquired a new position in Mercury Systems in the second quarter valued at about $110,000. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Performance

Mercury Systems stock opened at $76.69 on Tuesday. The business has a 50 day moving average of $70.63 and a 200-day moving average of $56.82. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $85.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The company has a market capitalization of $4.60 billion, a P/E ratio of -116.20, a P/E/G ratio of 3.06 and a beta of 0.82.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The business had revenue of $256.86 million for the quarter. On average, equities research analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Insider Activity

In other Mercury Systems news, EVP Stuart Kupinsky sold 1,220 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 70,297 shares in the company, valued at approximately $4,531,344.62. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the transaction, the director owned 5,964,313 shares in the company, valued at $390,185,356.46. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 848,980 shares of company stock worth $55,529,247. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRCY. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. boosted 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. Canaccord Genuity Group initiated coverage on Mercury Systems in a research note on Thursday, October 2nd. They set a "buy" rating and a $88.00 target price for the company. Finally, Truist Financial boosted 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Mercury Systems currently has an average rating of "Moderate Buy" and a consensus price target of $70.67.

Mercury Systems Company 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.

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