Legato Capital Management LLC Makes New $573,000 Investment in Mercury Systems Inc (NASDAQ:MRCY)

Key Points

• Legato Capital Management LLC acquired 13,290 shares of Mercury Systems Inc, valued at approximately $573,000, as part of its first-quarter investments.
• A significant portion of Mercury Systems' stock, 95.99%, is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Recent analyst ratings for Mercury Systems have varied, with price targets being raised by multiple institutions, reflecting a consensus rating of "Hold" with a target price of $50.29.

Legato Capital Management LLC acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 13,290 shares of the technology company's stock, valued at approximately $573,000.

A number of other hedge funds have also bought and sold shares of MRCY. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems during the 4th quarter valued at $33,000. GAMMA Investing LLC lifted its holdings in shares of Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after acquiring an additional 395 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after acquiring an additional 451 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock worth $69,000 after acquiring an additional 1,449 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of Mercury Systems during the 4th quarter worth $212,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Trading Up 1.0%

Shares of NASDAQ MRCY traded up $0.52 during midday trading on Friday, hitting $52.98. 319,512 shares of the company traded hands, compared to its average volume of 722,485. Mercury Systems Inc has a 12-month low of $31.66 and a 12-month high of $54.32. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. The stock has a 50-day moving average price of $50.90 and a 200 day moving average price of $47.08. The firm has a market cap of $3.17 billion, a P/E ratio of -47.30, a P/E/G ratio of 2.48 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The company had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. During the same quarter in the previous year, the company earned ($0.26) earnings per share. Mercury Systems's quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 1,839 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the transaction, the executive vice president owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director owned 6,861,313 shares in the company, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,883 shares of company stock worth $4,362,791. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted 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. Truist Financial lifted their price objective on shares of Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Mercury Systems presently has an average rating of "Hold" and an average price target of $50.29.

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.