Lisanti Capital Growth LLC Makes New $2.56 Million Investment in Mercury Systems Inc (NASDAQ:MRCY)

Lisanti Capital Growth LLC purchased a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 59,455 shares of the technology company's stock, valued at approximately $2,562,000. Lisanti Capital Growth LLC owned 0.10% of Mercury Systems at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRCY. Neo Ivy Capital Management purchased a new stake in Mercury Systems in the fourth quarter worth $33,000. GAMMA Investing LLC lifted its position in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp boosted its stake 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 valued at $56,000 after purchasing an additional 451 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after buying an additional 1,449 shares during the period. Finally, Cibc World Markets Corp purchased a new position in shares of Mercury Systems during the fourth quarter valued at about $204,000. Institutional investors own 95.99% of the company's stock.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the transaction, the executive vice president owned 56,187 shares in the company, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems 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 sale, the director owned 6,861,313 shares of the company's stock, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,883 shares of company stock valued at $4,362,791. 1.60% of the stock is owned by company insiders.

Mercury Systems Stock Down 0.3%

Shares of MRCY traded down $0.13 during trading hours on Wednesday, hitting $50.50. The company had a trading volume of 520,748 shares, compared to its average volume of 566,179. The firm has a fifty day moving average price of $49.72 and a 200-day moving average price of $45.76. 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 market capitalization of $3.02 billion, a price-to-earnings ratio of -45.09 and a beta of 0.71. Mercury Systems Inc has a 52-week low of $28.45 and a 52-week high of $54.32.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. Mercury Systems's revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. On average, equities research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Royal Bank Of Canada raised their target price on Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lifted their price target on Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Monday, May 12th. Finally, Truist Financial increased their price objective on Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $49.57.

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.