Conestoga Capital Advisors LLC Boosts Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Conestoga Capital Advisors LLC lifted its stake in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,258,186 shares of the technology company's stock after purchasing an additional 185,369 shares during the quarter. Conestoga Capital Advisors LLC owned about 3.78% of Mercury Systems worth $97,305,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MRCY. Sterling Capital Management LLC increased its stake in shares of Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock worth $69,000 after acquiring an additional 1,449 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Mercury Systems by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company's stock valued at $10,327,000 after purchasing an additional 7,512 shares during the period. Victory Capital Management Inc. increased its position in Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after purchasing an additional 294,747 shares during the last quarter. GAMMA Investing LLC increased its position in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after purchasing an additional 44,926 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after purchasing an additional 41,324 shares during the period. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MRCY. The Goldman Sachs Group increased their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research note on Monday, May 12th. Royal Bank of Canada increased their price objective on Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised their target price on Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Truist Financial upped their price target on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mercury Systems presently has a consensus rating of "Hold" and an average price target of $49.57.

Insider Activity

In related news, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction that occurred 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 now owns 6,861,313 shares in the company, valued at $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total transaction of $185,648.40. Following the transaction, the executive vice president now owns 56,187 shares of the company's stock, valued at $2,680,119.90. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Mercury Systems Price Performance

MRCY opened at $49.53 on Tuesday. The stock's 50-day moving average price is $48.67 and its 200 day moving average price is $44.82. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $54.32. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -31.75 and a beta of 0.68. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. During the same quarter last year, the firm posted ($0.26) earnings per share. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

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.

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