Fox Run Management L.L.C. Buys Shares of 6,847 Mercury Systems Inc $MRCY

Key Points

• Fox Run Management L.L.C. acquired a new position in Mercury Systems Inc with the purchase of 6,847 shares valued at approximately $295,000 in the first quarter.
• Mercury Systems has seen significant recent activity from institutional investors, with 95.99% of the stock currently held by them, highlighting strong interest in the company's performance.
• Analyst ratings for Mercury Systems are generally positive, with recommendations ranging from Strong Buy to Sell, and a current consensus target price of $60.71.

Fox Run Management L.L.C. purchased a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,847 shares of the technology company's stock, valued at approximately $295,000.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in shares of Mercury Systems by 12.7% during the 4th quarter. Wells Fargo & Company MN now owns 44,685 shares of the technology company's stock worth $1,877,000 after purchasing an additional 5,038 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Mercury Systems by 156,480.0% in the fourth quarter. Russell Investments Group Ltd. now owns 15,658 shares of the technology company's stock worth $658,000 after purchasing an additional 15,648 shares during the period. Bank of Montreal Can boosted its stake in Mercury Systems by 5.0% during the fourth quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock worth $461,000 after buying an additional 519 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Mercury Systems in the 4th quarter valued at $4,258,000. Finally, Sterling Capital Management LLC raised 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 valued at $69,000 after buying an additional 1,449 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Trading Up 1.7%

NASDAQ:MRCY traded up $1.15 during trading hours on Monday, hitting $67.98. 532,931 shares of the stock were exchanged, compared to its average volume of 807,415. The company has a market capitalization of $4.07 billion, a P/E ratio of -103.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.72. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The company's 50 day moving average is $54.92 and its two-hundred day moving average is $49.54. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $69.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm's quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MRCY has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. Robert W. Baird upped their price objective on Mercury Systems from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Truist Financial upped their price target on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Zacks Research raised Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.71.

Insider Activity at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total value of $52,139,740.00. Following the transaction, the director directly owned 5,964,313 shares in the company, valued at $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the sale, the chief executive officer directly owned 374,976 shares of the company's stock, valued at $24,170,952.96. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 850,752 shares of company stock worth $55,622,679. Insiders own 1.60% of the company's stock.

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.