Mercury Systems Inc $MRCY Holdings Decreased by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE cut its stake in Mercury Systems by 26.1% in the fourth quarter, selling 64,684 shares and leaving it with 183,144 shares valued at about $13.37 million.
• Insider selling has also been notable, with executives Steven Ratner and David E. Farnsworth selling shares in recent transactions; insiders have sold 21,875 shares worth about $2.04 million over the last 90 days.
• Mercury Systems reported stronger-than-expected quarterly results, posting EPS of $0.27 versus $0.06 expected and revenue of $235.76 million, up 11.5% year over year.

Axiom Investors LLC DE decreased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 26.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,144 shares of the technology company's stock after selling 64,684 shares during the quarter. Axiom Investors LLC DE owned 0.31% of Mercury Systems worth $13,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Leonteq Securities AG purchased a new position in shares of Mercury Systems during the fourth quarter valued at $35,000. AlphaQuest LLC grew its stake 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 purchasing an additional 168 shares in the last quarter. Osaic Holdings Inc. grew its stake in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after purchasing an additional 208 shares in the last quarter. Federated Hermes Inc. purchased a new position in Mercury Systems in the second quarter valued at about $43,000. Finally, Signaturefd LLC grew its stake in Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company's stock valued at $59,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Buying and Selling

In related news, EVP Steven Ratner sold 2,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares of the company's stock, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The transaction 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 business's stock in a transaction dated 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 $13,384,083.87. This represents a 2.25% decrease in their position. 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. In the last 90 days, insiders have sold 21,875 shares of company stock worth $2,040,874. Insiders own 1.40% of the company's stock.

Mercury Systems Stock Performance

MRCY opened at $108.82 on Wednesday. The company has a market cap of $6.53 billion, a PE ratio of -453.42 and a beta of 0.94. The stock has a 50-day moving average of $89.72 and a 200-day moving average of $84.90. Mercury Systems Inc has a 52-week low of $48.75 and a 52-week high of $118.57. 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 released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm's revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. As a group, equities research analysts forecast that Mercury Systems Inc will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRCY. Jefferies Financial Group restated a "hold" rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Mercury Systems in a research note on Tuesday, April 21st. The Goldman Sachs Group boosted their target price on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a research note on Monday, May 11th. Canaccord Genuity Group boosted their target price on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a research note on Friday, May 1st. Two research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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