GAMMA Investing LLC Boosts Stock Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

GAMMA Investing LLC grew its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 6,776.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,589 shares of the technology company's stock after acquiring an additional 44,926 shares during the period. GAMMA Investing LLC owned 0.08% of Mercury Systems worth $1,964,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Mercury Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after acquiring an additional 41,324 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mercury Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after buying an additional 52,725 shares during the period. Victory Capital Management Inc. lifted its holdings in Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after buying an additional 294,747 shares during the period. Millennium Management LLC grew its holdings in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after acquiring an additional 677,894 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Mercury Systems by 50.8% in the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock valued at $41,535,000 after purchasing an additional 333,109 shares during the period. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Buying and Selling

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director now owns 6,861,313 shares of the company's stock, valued at approximately $317,472,952.51. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the sale, the executive vice president now directly owns 56,187 shares in the company, valued at $2,680,119.90. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Mercury Systems Trading Up 2.7%

Shares of NASDAQ MRCY opened at $52.98 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The business's 50 day moving average price is $48.53 and its 200-day moving average price is $44.71. Mercury Systems, Inc. has a fifty-two week low of $26.48 and a fifty-two week high of $54.32. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -33.96 and a beta of 0.68.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The firm had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. During the same period in the prior year, the business posted ($0.26) earnings per share. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial raised their price objective on Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Royal Bank of Canada lifted their target price on Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group raised their price target on Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $47.29.

About Mercury Systems

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.

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