Freemont Management S.A. Makes New Investment in Mercury Systems Inc $MRCY

Key Points

• Freemont Management S.A. opened a new position in Mercury Systems during the first quarter, buying 31,700 shares worth about $2.31 million.
• Other institutional investors have also been active in MRCY, and about 95.99% of the stock is now owned by hedge funds and other institutions.
• Insiders have been selling shares recently: directors Howard L. Lance and Orlando D. Carvalho sold a combined 18,250 shares worth roughly $1.73 million over the last 90 days.

Freemont Management S.A. purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 31,700 shares of the technology company's stock, valued at approximately $2,311,000. Freemont Management S.A. owned 0.05% of Mercury Systems as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. raised its holdings in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after buying an additional 208 shares during the period. Leonteq Securities AG purchased a new position in Mercury Systems during the 4th quarter valued at about $35,000. Hollencrest Capital Management acquired a new position in Mercury Systems in the 4th quarter valued at about $37,000. Federated Hermes Inc. acquired a new position in Mercury Systems in the 2nd quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. increased its stake 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 worth $48,000 after purchasing an additional 228 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,250 shares of company stock worth $1,733,220 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

MRCY stock opened at $96.08 on Friday. The business's 50-day moving average is $107.49 and its two-hundred day moving average is $92.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm has a market capitalization of $5.77 billion, a P/E ratio of -400.33 and a beta of 0.93. Mercury Systems Inc has a 1 year low of $50.13 and a 1 year high of $128.45.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping 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 business had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business's revenue for the quarter was up 11.5% on a year-over-year basis. Analysts anticipate that Mercury Systems Inc will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on MRCY. JPMorgan Chase & Co. increased their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Jefferies Financial Group restated a "hold" rating and issued a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. The Goldman Sachs Group upped their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a research note on Monday, May 11th. Zacks Research raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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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