Intech Investment Management LLC Has $4.94 Million Holdings in Mercury Systems Inc $MRCY

Key Points

• Intech Investment Management LLC more than doubled its stake in Mercury Systems during the fourth quarter, increasing holdings by 101.3% to 67,627 shares valued at about $4.94 million.
• Other institutional investors also boosted positions, and hedge funds now own 95.99% of Mercury Systems’ stock, indicating heavy institutional ownership.
• Mercury Systems reported a strong quarter, with EPS of $0.27 beating estimates and revenue rising 11.5% year over year, while analysts currently rate the stock a Moderate Buy with an average price target of $89.89.

Intech Investment Management LLC lifted its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 101.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,627 shares of the technology company's stock after purchasing an additional 34,036 shares during the period. Intech Investment Management LLC owned 0.11% of Mercury Systems worth $4,937,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Mercury Systems by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company's stock worth $99,940,000 after purchasing an additional 47,174 shares during the period. King Luther Capital Management Corp lifted its holdings in shares of Mercury Systems by 94.4% during the fourth quarter. King Luther Capital Management Corp now owns 202,643 shares of the technology company's stock worth $14,795,000 after purchasing an additional 98,398 shares during the period. Penn Capital Management Company LLC lifted its holdings in shares of Mercury Systems by 4.2% during the fourth quarter. Penn Capital Management Company LLC now owns 191,883 shares of the technology company's stock worth $14,047,000 after purchasing an additional 7,729 shares during the period. Swedbank AB lifted its holdings in shares of Mercury Systems by 722.1% during the fourth quarter. Swedbank AB now owns 38,349 shares of the technology company's stock worth $2,800,000 after purchasing an additional 33,684 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in shares of Mercury Systems by 71.9% during the fourth quarter. Legato Capital Management LLC now owns 41,396 shares of the technology company's stock worth $3,022,000 after purchasing an additional 17,311 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Insider Activity

In other news, Director Orlando D. Carvalho sold 7,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the transaction, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David E. Farnsworth sold 3,625 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total transaction of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. This represents a 2.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 291,422 shares of company stock valued at $26,288,054. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MRCY. Royal Bank Of Canada reiterated an "outperform" rating and set a $105.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Canaccord Genuity Group lifted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group restated a "hold" rating and issued a $95.00 target price on shares of Mercury Systems in a report on Sunday, May 10th. Finally, Truist Financial upgraded shares of Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.89.

Mercury Systems Price Performance

MRCY stock opened at $111.70 on Monday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -465.42 and a beta of 0.94. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12-month low of $47.53 and a 12-month high of $113.47. The company's fifty day simple moving average is $84.71 and its 200 day simple moving average is $82.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business's quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that Mercury Systems Inc will post 0.18 earnings per share for the current year.

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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