Kennedy Capital Management LLC Acquires 13,476 Shares of Mercury Systems Inc $MRCY

Key Points

• Kennedy Capital Management increased its Mercury Systems stake by 2.1% in the fourth quarter, buying 13,476 shares and bringing its total holdings to 670,489 shares worth about $48.95 million.
• Mercury Systems’ latest quarterly results beat expectations, with EPS of $0.27 versus the $0.06 consensus and revenue of $235.76 million, up 11.5% year over year.
• Insider activity has skewed toward selling, including Director Howard L. Lance’s sale of 9,250 shares and EVP David E. Farnsworth’s sale of 3,625 shares; analysts currently rate the stock a consensus Moderate Buy with a $91 average price target.

Kennedy Capital Management LLC increased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,489 shares of the technology company's stock after buying an additional 13,476 shares during the period. Mercury Systems comprises approximately 1.0% of Kennedy Capital Management LLC's portfolio, making the stock its 4th largest position. Kennedy Capital Management LLC owned 1.12% of Mercury Systems worth $48,952,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after buying an additional 208 shares during the period. Leonteq Securities AG acquired a new stake in Mercury Systems during the 4th quarter worth approximately $35,000. Hollencrest Capital Management acquired a new stake in Mercury Systems during the 4th quarter worth approximately $37,000. Federated Hermes Inc. acquired a new stake in Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC boosted its holdings in Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock valued at $44,000 after acquiring an additional 168 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $120.30 on Friday. The business's 50 day simple moving average is $92.30 and its 200 day simple moving average is $85.80. Mercury Systems Inc has a one year low of $48.75 and a one year high of $121.37. The stock has a market capitalization of $7.22 billion, a PE ratio of -501.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

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

Insiders Place Their Bets

In other Mercury Systems news, Director Howard L. Lance sold 9,250 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. 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. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group upped their target price on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Jefferies Financial Group reiterated a "hold" rating and issued a $105.00 target price on shares of Mercury Systems in a report on Monday, June 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mercury Systems currently has a consensus rating of "Moderate Buy" and an average price target of $91.00.

About Mercury Systems

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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