Greenwood Capital Associates LLC Buys Shares of 10,077 Mercury Systems, Inc. (NASDAQ:MRCY)

Greenwood Capital Associates LLC purchased a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,077 shares of the technology company's stock, valued at approximately $434,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC grew its holdings in Mercury Systems by 4.0% during the fourth quarter. Corient Private Wealth LLC now owns 6,858 shares of the technology company's stock valued at $288,000 after purchasing an additional 266 shares during the period. Ironwood Investment Management LLC raised its holdings in shares of Mercury Systems by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 40,994 shares of the technology company's stock worth $1,722,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC raised its stake in Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after acquiring an additional 451 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Mercury Systems by 8.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company's stock valued at $288,000 after purchasing an additional 517 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction that occurred on Thursday, May 8th. The stock was 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. The trade was a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY traded up $1.41 during trading hours on Friday, reaching $52.98. The stock had a trading volume of 1,007,476 shares, compared to its average volume of 594,573. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -33.96 and a beta of 0.68. Mercury Systems, Inc. has a fifty-two week low of $26.48 and a fifty-two week high of $56.39. The firm has a 50-day moving average of $48.33 and a 200-day moving average of $44.64. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The business had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) EPS. Equities research analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

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.