Louisiana State Employees Retirement System Takes $1.71 Million Position in Mercury Systems Inc $MRCY

Key Points

• Louisiana State Employees Retirement System opened a new position in Mercury Systems during the first quarter, buying 23,400 shares valued at about $1.71 million.
• Mercury Systems reported stronger-than-expected quarterly results, with $0.27 EPS versus $0.06 expected and revenue of $235.76 million, up 11.5% year over year.
• Despite mixed analyst views and recent insider selling, the stock has been trading near its highs, opening at $123.05 with a market cap of about $7.39 billion.

Louisiana State Employees Retirement System acquired a new position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,400 shares of the technology company's stock, valued at approximately $1,706,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB acquired a new stake in Mercury Systems during the 4th quarter valued at approximately $4,954,000. Cresset Asset Management LLC acquired a new stake in shares of Mercury Systems in the third quarter worth $1,862,000. Penn Capital Management Company LLC purchased a new position in shares of Mercury Systems during the third quarter worth $14,292,000. One Capital Management LLC raised its holdings in shares of Mercury Systems by 43.6% during the fourth quarter. One Capital Management LLC now owns 29,300 shares of the technology company's stock worth $2,139,000 after purchasing an additional 8,893 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Mercury Systems by 45.6% during the fourth quarter. Bessemer Group Inc. now owns 399,496 shares of the technology company's stock valued at $29,168,000 after purchasing an additional 125,194 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Mercury Systems Trading Up 0.6%

Shares of Mercury Systems stock opened at $123.05 on Thursday. The firm has a 50-day simple moving average of $100.77 and a two-hundred day simple moving average of $89.81. The company has a market cap of $7.39 billion, a P/E ratio of -512.71 and a beta of 0.94. Mercury Systems Inc has a fifty-two week low of $49.54 and a fifty-two week high of $127.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million for the quarter, compared to analysts' expectations of $208.56 million. During the same period last year, the firm earned $0.06 EPS. The company's quarterly revenue was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and set a $105.00 price target on shares of Mercury Systems in a research report on Monday, June 1st. Canaccord Genuity Group upped their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed 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 research report on Friday, May 1st. Finally, The Goldman Sachs Group boosted their price target on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a report on Monday, May 11th. Two equities research 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.00.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the sale, the executive vice president directly owned 32,238 shares of the company's stock, valued at approximately $2,980,725.48. This trade represents a 5.84% 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 hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the company's 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 directly owned 157,701 shares of the company's stock, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 21,875 shares of company stock worth $2,040,874. Company insiders own 1.40% of the company's stock.

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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