Conestoga Capital Advisors LLC Has $137.82 Million Stake in Mercury Systems Inc $MRCY

Key Points

• Conestoga Capital Advisors LLC increased its stake in Mercury Systems Inc by 13.3%, owning approximately $137.82 million worth of shares, which represents 2.0% of its holdings.
• Several institutional investors have recently modified their positions, with 95.99% of the company's stock currently owned by such investors.
• Mercury Systems has shown a 12-month price range between $32.32 and $85.33, with analysts giving it a consensus rating of "Moderate Buy" and an average price target of $73.89.

Conestoga Capital Advisors LLC increased its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 13.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,558,935 shares of the technology company's stock after purchasing an additional 300,749 shares during the period. Mercury Systems makes up 2.0% of Conestoga Capital Advisors LLC's holdings, making the stock its 19th largest position. Conestoga Capital Advisors LLC owned approximately 4.28% of Mercury Systems worth $137,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after buying an additional 395 shares during the period. Nkcfo LLC acquired a new position in Mercury Systems during the 1st quarter worth approximately $72,000. Hilltop National Bank bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $110,000. US Bancorp DE raised its holdings in shares of 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Mercury Systems in the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $75.54 on Monday. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $85.33. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -114.45, a P/E/G ratio of 3.09 and a beta of 0.82. The stock's 50 day moving average price is $72.53 and its two-hundred day moving average price is $57.74. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share 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, analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MRCY. Truist Financial raised their target price on shares of Mercury Systems from $71.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a report on Wednesday, August 13th. Robert W. Baird upped their target price on Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Canaccord Genuity Group began coverage on Mercury Systems in a research note on Thursday, October 2nd. They issued a "buy" rating and a $88.00 price target for the company. Finally, Wall Street Zen lowered Mercury Systems from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $73.89.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 1,220 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $78,641.20. Following the completion of the sale, the executive vice president directly owned 70,297 shares in the company, valued at $4,531,344.62. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David E. Farnsworth sold 7,572 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $488,091.12. Following the completion of the transaction, the executive vice president directly owned 161,326 shares in the company, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 848,980 shares of company stock worth $55,529,247 in the last quarter. 1.40% 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.

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