22,609 Shares in Mercury Systems Inc $MRCY Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP acquired **22,609 shares** of Mercury Systems Inc, investing approximately **$974,000** during the first quarter of 2023.
• Mercury Systems has reported a **9.9% year-over-year increase in revenue**, totaling **$273.11 million** for the latest quarter, outperforming analyst expectations.
• Numerous analysts have raised their **target prices** for Mercury Systems, with **Raymond James** upgrading the stock to a "**strong-buy**" and setting a target price of **$80.00**.

Caxton Associates LLP purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,609 shares of the technology company's stock, valued at approximately $974,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Neo Ivy Capital Management bought a new position in Mercury Systems in the fourth quarter valued at about $33,000. GAMMA Investing LLC boosted its stake in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the last quarter. Nkcfo LLC acquired a new position in Mercury Systems during the 1st quarter worth approximately $72,000. Finally, US Bancorp DE increased 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 purchasing an additional 749 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Trading Down 1.1%

NASDAQ:MRCY traded down $0.84 on Friday, reaching $72.24. 639,069 shares of the stock traded hands, compared to its average volume of 513,390. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 1-year low of $32.32 and a 1-year high of $74.00. The company's 50 day moving average is $59.83 and its 200-day moving average is $51.89. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -109.45, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The company had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. During the same period in the prior year, the firm posted $0.23 EPS. The company's quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MRCY shares. Truist Financial raised their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a report on Saturday. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th. The Goldman Sachs Group increased 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. Finally, Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 374,976 shares in the company, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director directly owned 5,964,313 shares of the company's stock, valued at approximately $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 850,752 shares of company stock valued at $55,622,679. 1.60% of the stock is owned by corporate 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.