Millennium Management LLC Has $29.47 Million Holdings in Mercury Systems Inc $MRCY

Key Points

• Millennium Management LLC reduced its stake in Mercury Systems Inc by 33.2%, now owning approximately 1.14% of the company's shares valued at about $29.5 million.
• Mercury Systems reported earnings of $0.47 per share, exceeding estimates by $0.26, with revenue of $273.11 million, representing a 9.9% increase compared to the previous year.
• The stock price of Mercury Systems has seen significant upward movement, opening at $71.70, and analysts predict a consensus price target of $60.71 with varied investment ratings from multiple firms.

Millennium Management LLC lowered its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 33.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 684,004 shares of the technology company's stock after selling 339,504 shares during the period. Millennium Management LLC owned about 1.14% of Mercury Systems worth $29,474,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MRCY. Ameriprise Financial Inc. lifted its holdings in Mercury Systems by 13.5% in the fourth quarter. Ameriprise Financial Inc. now owns 392,358 shares of the technology company's stock worth $16,479,000 after acquiring an additional 46,688 shares during the last quarter. Captrust Financial Advisors bought a new position in Mercury Systems in the fourth quarter worth about $212,000. Deutsche Bank AG lifted its holdings in Mercury Systems by 190.8% in the fourth quarter. Deutsche Bank AG now owns 151,476 shares of the technology company's stock worth $6,362,000 after acquiring an additional 99,391 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in Mercury Systems by 56.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 117,973 shares of the technology company's stock worth $4,955,000 after acquiring an additional 42,533 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Mercury Systems in the fourth quarter worth about $278,000. Institutional investors own 95.99% of the company's stock.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $841,203.00. Following the transaction, the chief executive officer directly owned 374,976 shares in the company, valued at approximately $24,170,952.96. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stuart Kupinsky sold 1,220 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $78,641.20. Following the transaction, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 850,752 shares of company stock valued at $55,622,679 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

Shares of NASDAQ MRCY traded down $0.84 during mid-day trading on Friday, reaching $72.24. 639,069 shares of the company traded hands, compared to its average volume of 513,390. Mercury Systems Inc has a fifty-two week low of $32.32 and a fifty-two week high of $74.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The firm has a market cap of $4.34 billion, a PE ratio of -109.45, a price-to-earnings-growth ratio of 3.04 and a beta of 0.77. The stock has a fifty day simple moving average of $59.83 and a 200-day simple moving average of $51.89.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.26. The business had revenue of $273.11 million for the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MRCY shares. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. lifted their price target on Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a report on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $55.00 to $80.00 in a report on Tuesday, August 12th. Truist Financial lifted their price target on Mercury Systems from $60.00 to $71.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, The Goldman Sachs Group lifted their price target on Mercury Systems from $35.00 to $39.00 and gave the company a "sell" rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.71.

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.