Calamos Advisors LLC Makes New $848,000 Investment in Mercury Systems Inc (NASDAQ:MRCY)

Calamos Advisors LLC purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 19,684 shares of the technology company's stock, valued at approximately $848,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Mercury Systems by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after acquiring an additional 41,324 shares during the period. Conestoga Capital Advisors LLC raised its holdings in Mercury Systems by 8.9% during the first 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 last quarter. Dimensional Fund Advisors LP increased its position in Mercury Systems by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after buying an additional 52,725 shares in the last quarter. Millennium Management LLC increased its position in Mercury Systems by 196.1% during the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after buying an additional 677,894 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after buying an additional 333,109 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MRCY shares. JPMorgan Chase & Co. raised their price target on Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Truist Financial lifted their price objective on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Royal Bank Of Canada lifted their price objective on Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 3rd. Finally, The Goldman Sachs Group lifted their price objective on Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $50.29.

Mercury Systems Stock Performance

NASDAQ MRCY traded up $0.40 during trading on Wednesday, hitting $52.40. The company's stock had a trading volume of 634,309 shares, compared to its average volume of 569,982. The company has a quick ratio of 2.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $49.90 and a 200 day moving average price of $46.19. The firm has a market cap of $3.13 billion, a P/E ratio of -46.79, a price-to-earnings-growth ratio of 10.75 and a beta of 0.71. Mercury Systems Inc has a 52 week low of $29.84 and a 52 week high of $54.32.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The firm had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. During the same period in the prior year, the business posted ($0.26) earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 1,839 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares of the company's stock, valued at $1,881,105.52. This trade represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the transaction, the director directly owned 6,861,313 shares of the company's stock, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,883 shares of company stock worth $4,362,791. 1.60% of the stock is currently owned by insiders.

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.