Millennium Management LLC Purchases 677,894 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Millennium Management LLC boosted its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 196.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,023,508 shares of the technology company's stock after buying an additional 677,894 shares during the quarter. Millennium Management LLC owned approximately 1.71% of Mercury Systems worth $42,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Mercury Systems by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock worth $233,126,000 after purchasing an additional 41,324 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Mercury Systems by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock worth $92,490,000 after purchasing an additional 52,725 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock worth $87,058,000 after purchasing an additional 743,552 shares during the last quarter. Victory Capital Management Inc. grew its position in Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after purchasing an additional 294,747 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Mercury Systems by 50.8% in the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after purchasing an additional 333,109 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mercury Systems

In other news, EVP Steven Ratner sold 3,892 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now directly owns 56,187 shares of the company's stock, valued at approximately $2,680,119.90. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director now directly owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MRCY shares. Royal Bank of Canada raised their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Baird R W upgraded shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Truist Financial upgraded shares of Mercury Systems from a "hold" rating to a "buy" rating and raised their price target for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. Robert W. Baird upgraded shares of Mercury Systems from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group raised their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.71.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY traded up $0.29 during midday trading on Friday, reaching $47.20. 320,171 shares of the company's stock were exchanged, compared to its average volume of 579,573. The company's 50 day simple moving average is $46.61 and its two-hundred day simple moving average is $43.72. The firm has a market capitalization of $2.82 billion, a PE ratio of -30.26 and a beta of 0.70. Mercury Systems, Inc. has a 12 month low of $26.48 and a 12 month high of $52.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.26) EPS. Equities research analysts expect that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Mercury Systems Company Profile

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.