Emerald Mutual Fund Advisers Trust Purchases 39,414 Shares of Mercury Systems Inc $MRCY

Key Points

• Emerald Mutual Fund Advisers Trust increased its stake in Mercury Systems by 11.7% in the first quarter, buying 39,414 additional shares and bringing its total to 375,472 shares worth about $27.4 million.
• Mercury Systems reported better-than-expected quarterly results, with EPS of $0.27 versus a $0.06 estimate and revenue of $235.76 million, up 11.5% year over year.
• Despite the earnings beat, the stock was trading down and insider selling continued, with directors and executives selling shares over the past 90 days while analysts held a mixed but slightly positive overall view.

Emerald Mutual Fund Advisers Trust boosted its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 11.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 375,472 shares of the technology company's stock after buying an additional 39,414 shares during the period. Mercury Systems accounts for approximately 1.3% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 17th biggest position. Emerald Mutual Fund Advisers Trust owned about 0.63% of Mercury Systems worth $27,376,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Osaic Holdings Inc. lifted its position in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after acquiring an additional 208 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Mercury Systems in the fourth quarter worth about $35,000. Hollencrest Capital Management purchased a new stake in shares of Mercury Systems during the fourth quarter worth about $37,000. Federated Hermes Inc. purchased a new stake in shares of Mercury Systems during the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. raised its stake in Mercury Systems by 53.6% during the 4th 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 period. 95.99% of the stock is owned by institutional investors.

Insider Transactions at Mercury Systems

In related news, Director Howard L. Lance sold 9,250 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of the business's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total transaction of $307,653.75. Following the completion of the sale, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. This represents a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 21,875 shares of company stock valued at $2,040,874 over the last 90 days. Insiders own 1.40% of the company's stock.

Mercury Systems Trading Down 9.0%

Shares of MRCY stock opened at $98.26 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of -409.42 and a beta of 0.93. Mercury Systems Inc has a 12-month low of $49.86 and a 12-month high of $128.45. The stock's 50-day moving average price is $106.64 and its 200-day moving average price is $92.25.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same period in the prior year, the company earned $0.06 earnings per share. The firm's revenue was up 11.5% on a year-over-year basis. Equities research analysts predict that Mercury Systems Inc will post 0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a report on Monday. Jefferies Financial Group reaffirmed a "hold" rating and set a $115.00 price objective on shares of Mercury Systems in a report on Friday. Wall Street Zen upgraded shares of Mercury Systems from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. 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. Finally, Truist Financial upgraded shares of Mercury Systems to a "strong-buy" rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $95.78.

About Mercury Systems

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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