Gabelli Funds LLC Has $2.11 Million Stock Holdings in Mercury Systems Inc $MRCY

Key Points

• Gabelli Funds increased its Mercury Systems stake by 242.4% in the first quarter, holding 28,893 shares valued at approximately $2.11 million. Institutional investors collectively own 95.99% of the company.
• Analyst views remain mixed, though the consensus rating is “Moderate Buy” with an average price target of $95.78. Recent calls ranged from Truist’s “strong buy” upgrade to sell and hold ratings from other firms.
• Mercury Systems reported quarterly EPS of $0.27, exceeding estimates of $0.06, while revenue rose 11.5% year over year to $235.76 million. However, insiders sold 18,250 shares worth $1.73 million over the past three months, and the stock opened at $90.17, down 9.3%.

Gabelli Funds LLC raised its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 242.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 28,893 shares of the technology company's stock after acquiring an additional 20,455 shares during the period. Gabelli Funds LLC's holdings in Mercury Systems were worth $2,107,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG acquired a new position in Mercury Systems in the fourth quarter valued at about $35,000. Hollencrest Capital Management bought a new position in Mercury Systems during the fourth quarter worth about $37,000. Federated Hermes Inc. bought a new position in Mercury Systems during the second quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. boosted its holdings 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 buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MRCY shares. Truist Financial raised Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Canaccord Genuity Group lifted their price objective 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. Wall Street Zen cut shares of Mercury Systems from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Monday, July 13th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.78.

Mercury Systems Stock Down 9.3%

NASDAQ:MRCY opened at $90.17 on Thursday. Mercury Systems Inc has a 1 year low of $50.13 and a 1 year high of $128.45. The stock has a 50-day moving average price of $108.51 and a two-hundred day moving average price of $94.06. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of -375.71 and a beta of 0.93. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results 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 company had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same quarter last year, the firm posted $0.06 earnings per share. Mercury Systems's revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts expect that Mercury Systems Inc will post 0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,250 shares of company stock worth $1,733,220. Company insiders own 1.40% of the company's stock.

Mercury Systems 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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