Intech Investment Management LLC Boosts Stake in Mercury Systems Inc $MRCY

Key Points

• Intech Investment Management LLC increased its holdings in Mercury Systems Inc by 199.3%, owning approximately 76,848 shares valued at $3.31 million as of the last quarter.
• Mercury Systems reported a quarterly earnings per share (EPS) of $0.47, significantly exceeding analysts' expectations of $0.21, and achieved revenues of $273.11 million.
• Several brokerages have upgraded their ratings on Mercury Systems, with Raymond James Financial raising the price target from $55.00 to $80.00 and indicating a transition from "outperform" to "strong-buy".

Intech Investment Management LLC raised its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 199.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,848 shares of the technology company's stock after acquiring an additional 51,168 shares during the quarter. Intech Investment Management LLC owned approximately 0.13% of Mercury Systems worth $3,311,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MRCY. Millennium Management LLC grew its stake 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 in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Mercury Systems by 1,479.5% during the first quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company's stock worth $21,228,000 after buying an additional 461,449 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock worth $36,861,000 after buying an additional 290,989 shares in the last quarter. Nuveen LLC bought a new position in shares of Mercury Systems in the first quarter worth $8,751,000. Finally, Conestoga Capital Advisors LLC increased its position in shares of Mercury Systems by 8.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock worth $97,305,000 after purchasing an additional 185,369 shares during the period. 95.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRCY. The Goldman Sachs Group boosted their price target on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a report on Wednesday, August 13th. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research raised Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Royal Bank Of Canada boosted their price target on Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research note on Thursday, July 3rd. Finally, Truist Financial boosted their price target on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Insider Buying and Selling at Mercury Systems

In other news, EVP David E. Farnsworth sold 7,572 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $488,091.12. Following the sale, the executive vice president directly owned 161,326 shares in the company, valued at approximately $10,399,073.96. This trade represents a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stuart Kupinsky sold 1,220 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total value of $78,641.20. Following the completion of the sale, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock worth $55,529,247 over the last quarter. Company insiders own 1.40% of the company's stock.

Mercury Systems Stock Up 4.4%

MRCY traded up $3.28 during mid-day trading on Thursday, reaching $77.10. 617,709 shares of the stock were exchanged, compared to its average volume of 505,172. The stock has a market capitalization of $4.63 billion, a PE ratio of -116.82, a price-to-earnings-growth ratio of 3.07 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The company has a 50 day moving average price of $61.67 and a two-hundred day moving average price of $52.68. Mercury Systems Inc has a 1 year low of $32.32 and a 1 year high of $77.41.

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