Manatuck Hill Partners LLC Purchases Shares of 45,000 Mercury Systems Inc $MRCY

Key Points

• Manatuck Hill Partners LLC disclosed a new fourth-quarter stake in Mercury Systems, buying 45,000 shares worth about $3.29 million, or roughly 0.07% of the company.
• Mercury Systems has seen continued institutional interest, with several funds increasing holdings, while institutions now own 95.99% of the stock.
• The company reported better-than-expected quarterly results, including EPS of $0.27 versus $0.06 expected and revenue of $235.76 million, while analysts currently rate the stock a Moderate Buy with an average target price of $91.00.

Manatuck Hill Partners LLC purchased a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 45,000 shares of the technology company's stock, valued at approximately $3,285,000. Manatuck Hill Partners LLC owned approximately 0.07% of Mercury Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MRCY. Signaturefd LLC raised its holdings in shares of Mercury Systems by 15.4% during the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company's stock valued at $59,000 after buying an additional 107 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Mercury Systems by 1.8% during the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company's stock valued at $563,000 after buying an additional 134 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Mercury Systems by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company's stock valued at $555,000 after buying an additional 142 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Mercury Systems by 11.3% during the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company's stock valued at $130,000 after buying an additional 181 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Mercury Systems by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company's stock valued at $880,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MRCY shares. The Goldman Sachs Group raised their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a report on Monday, May 11th. Truist Financial raised Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Canaccord Genuity Group upped their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group restated a "hold" rating and set a $105.00 price target on shares of Mercury Systems in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given 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 target price of $91.00.

Insiders Place Their Bets

In other news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems 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 completion of the sale, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. This represents 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. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $115.50 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The business's 50 day simple moving average is $94.69 and its two-hundred day simple moving average is $86.89. The stock has a market capitalization of $6.93 billion, a P/E ratio of -481.25 and a beta of 0.94. Mercury Systems Inc has a one year low of $49.03 and a one year high of $122.17.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. The business 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 business's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. Analysts forecast that Mercury Systems Inc will post 0.31 EPS 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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