Cresset Asset Management LLC Makes New Investment in Mercury Systems Inc $MRCY

Key Points

• Cresset Asset Management initiated a new stake in Mercury Systems, buying 24,061 shares in the third quarter valued at about $1.86 million.
• Insiders have been net sellers recently — notably Jana Partners sold 100,899 shares for roughly $9.05 million, and insiders sold 859,758 shares worth $74.48 million in the last quarter.
• Analysts give Mercury an average rating of Hold with a $86.89 average target; the company recently beat quarterly EPS and revenue estimates but still shows a negative net margin.

Cresset Asset Management LLC acquired a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,061 shares of the technology company's stock, valued at approximately $1,862,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in Mercury Systems by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company's stock valued at $555,000 after acquiring an additional 142 shares in the last quarter. AlphaQuest LLC boosted its stake in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Mercury Systems by 10.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,941 shares of the technology company's stock worth $150,000 after purchasing an additional 181 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Mercury Systems by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 11,871 shares of the technology company's stock worth $919,000 after purchasing an additional 209 shares during the last quarter. 95.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 100,899 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the completion of the sale, the director directly owned 4,114,618 shares of the company's stock, valued at $368,998,942.24. This trade represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stuart Kupinsky sold 2,287 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the completion of the transaction, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MRCY shares. The Goldman Sachs Group raised their target price on Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a report on Tuesday, January 20th. Jefferies Financial Group reissued a "hold" rating and issued a $85.00 price target on shares of Mercury Systems in a research report on Sunday, February 8th. Truist Financial raised their price objective on Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Mercury Systems currently has an average rating of "Hold" and an average target price of $86.89.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $86.42 on Monday. The company has a market capitalization of $5.19 billion, a PE ratio of -163.06, a PEG ratio of 8.37 and a beta of 0.77. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. The stock's 50 day moving average price is $89.04 and its 200-day moving average price is $78.90. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.09. The company had revenue of $232.87 million during the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.Mercury Systems's revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $0.07 earnings per share. On average, equities analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current year.

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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