Conestoga Capital Advisors LLC Sells 256,216 Shares of Mercury Systems Inc $MRCY

Key Points

• Conestoga Capital Advisors cut its Mercury Systems stake by 11.8% in the first quarter, selling 256,216 shares and leaving it with 1,918,591 shares worth about $139.9 million.
• Mercury Systems reported better-than-expected fiscal Q1 results, with EPS of $0.27 versus the $0.06 estimate and revenue of $235.76 million versus $208.56 million expected, while revenue rose 11.5% year over year.
• Insider selling and mixed analyst views continue to surround the stock: insiders sold 21,875 shares over 90 days, and analysts currently rate MRCY a “Moderate Buy” with a consensus price target of $91.00.

Conestoga Capital Advisors LLC trimmed its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,918,591 shares of the technology company's stock after selling 256,216 shares during the period. Mercury Systems makes up approximately 2.8% of Conestoga Capital Advisors LLC's holdings, making the stock its 14th biggest holding. Conestoga Capital Advisors LLC owned approximately 3.20% of Mercury Systems worth $139,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leonteq Securities AG purchased a new position in shares of Mercury Systems in the fourth quarter valued at $35,000. Hollencrest Capital Management purchased a new stake in Mercury Systems during the fourth quarter valued at $37,000. Osaic Holdings Inc. lifted its position in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Mercury Systems by 53.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company's stock valued at $48,000 after purchasing an additional 228 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Mercury Systems during the second quarter valued at $43,000. 95.99% of the stock is currently owned by institutional investors.

Insider Activity

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Howard L. Lance sold 9,250 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,875 shares of company stock valued at $2,040,874. 1.40% of the stock is currently owned by company insiders.

Mercury Systems Stock Up 0.6%

Shares of MRCY opened at $123.05 on Thursday. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $100.77 and a 200 day moving average of $89.81. The company has a market cap of $7.39 billion, a PE ratio of -512.71 and a beta of 0.93. Mercury Systems Inc has a 52-week low of $49.54 and a 52-week high of $127.83.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analysts' expectations of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, sell-side analysts expect that Mercury Systems Inc will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MRCY shares. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a "hold" rating and issued a $105.00 price target on shares of Mercury Systems in a research report on Monday, June 1st. Truist Financial raised Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group boosted their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Mercury Systems has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Mercury Systems Company Profile

Mercury Systems, Inc NASDAQ: MRCY is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.

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