Informed Momentum Co LLC Invests $3.10 Million in Mercury Systems Inc (NASDAQ:MRCY)

Key Points

• Informed Momentum Co LLC has acquired a new position in Mercury Systems Inc, purchasing 71,883 shares valued at approximately $3.1 million, representing 0.12% ownership as of the last quarter.
• Several institutional investors, including Conestoga Capital Advisors LLC and Millennium Management LLC, have increased their stakes in Mercury Systems, with institutional ownership reaching 95.99%.
• Mercury Systems reported a quarterly earnings per share of $0.47, exceeding expectations, and had a revenue of $273.11 million, up 9.9% from the previous year.

Informed Momentum Co LLC bought a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 71,883 shares of the technology company's stock, valued at approximately $3,097,000. Informed Momentum Co LLC owned approximately 0.12% of Mercury Systems at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its holdings in shares of Mercury Systems by 8.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock worth $97,305,000 after acquiring an additional 185,369 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mercury Systems by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after acquiring an additional 52,725 shares during the period. Millennium Management LLC lifted 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. First Trust Advisors LP lifted its holdings in shares of Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after acquiring an additional 333,109 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Mercury Systems by 6.4% during the 4th quarter. Invesco Ltd. now owns 631,961 shares of the technology company's stock worth $26,542,000 after acquiring an additional 37,847 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Steven Ratner sold 1,839 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. The trade was a 4.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Mercury Systems Trading Down 2.3%

MRCY traded down $1.56 during trading on Thursday, reaching $66.83. The company had a trading volume of 909,085 shares, compared to its average volume of 616,705. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.25 and a current ratio of 3.52. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -101.26, a PEG ratio of 3.19 and a beta of 0.72. The firm's 50-day simple moving average is $52.98 and its 200 day simple moving average is $48.35. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $69.95.

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

Analyst Upgrades and Downgrades

MRCY has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a report on Wednesday. Robert W. Baird increased their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Truist Financial increased their target price on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Mercury Systems has a consensus rating of "Moderate Buy" and a consensus target price of $59.13.

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.