Mercury Systems Inc $MRCY Position Raised by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management raised its stake in Mercury Systems by 6,562.5% in Q4, adding 140,044 shares to hold 142,178 shares (about 0.24% of the company) valued at roughly $10.38 million.
• Mercury Systems beat quarterly expectations with EPS of $0.16 (vs. $0.07 consensus) and revenue of $232.87 million (vs. $209.96 million), a 4.4% year‑over‑year revenue increase.
• Insiders have sold heavily recently—863,383 shares worth $74.79 million over the last three months—while analysts are mixed, the consensus rating is "Hold" with an average target of $86.33.

Peregrine Capital Management LLC lifted its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 6,562.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 142,178 shares of the technology company's stock after acquiring an additional 140,044 shares during the period. Peregrine Capital Management LLC owned 0.24% of Mercury Systems worth $10,380,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock valued at $32,000 after buying an additional 208 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Mercury Systems during the 3rd quarter valued at $32,000. Federated Hermes Inc. acquired a new position in Mercury Systems during the 2nd quarter worth $43,000. AlphaQuest LLC grew its stake in shares of Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock worth $44,000 after purchasing an additional 168 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock valued at $50,000 after purchasing an additional 234 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Price Performance

Shares of MRCY traded down $1.98 during trading hours on Thursday, hitting $80.63. 14,209 shares of the company were exchanged, compared to its average volume of 633,971. The firm has a fifty day simple moving average of $82.06 and a 200-day simple moving average of $80.52. The company has a market capitalization of $4.84 billion, a PE ratio of -152.14, a PEG ratio of 8.07 and a beta of 0.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. Mercury Systems Inc has a one year low of $44.01 and a one year high of $103.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $232.87 million during the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.Mercury Systems's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, sell-side analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MRCY. Jefferies Financial Group lowered their target price on shares of Mercury Systems from $85.00 to $80.00 and set a "hold" rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada reissued an "outperform" rating and set a $105.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price target on Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a research report on Tuesday. Finally, Truist Financial boosted their price objective on Mercury Systems from $102.00 to $109.00 and gave the stock a "buy" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $86.33.

Insider Buying and Selling at Mercury Systems

In other news, Director Howard L. Lance sold 4,832 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total value of $429,951.36. Following the completion of the sale, the director owned 27,272 shares of the company's stock, valued at $2,426,662.56. This trade represents a 15.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David E. Farnsworth sold 3,625 shares of the company's stock in a transaction on Thursday, April 16th. The shares were 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 in the company, valued at $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. Insiders have sold 863,383 shares of company stock valued at $74,789,584 over the last three months. 1.40% of the stock is owned by insiders.

Mercury Systems Company 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.

Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems Inc (NASDAQ:MRCY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.