Millennium Management LLC Boosts Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

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

Several other large investors have also recently made changes to their positions in the business. Sterling Capital Management LLC boosted its stake in shares of Mercury Systems by 762.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after purchasing an additional 1,449 shares in the last quarter. Principal Financial Group Inc. boosted its position in Mercury Systems by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 245,880 shares of the technology company's stock valued at $10,327,000 after buying an additional 7,512 shares during the period. Victory Capital Management Inc. boosted its position in Mercury Systems by 16.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock valued at $86,526,000 after buying an additional 294,747 shares during the period. Vanguard Group Inc. grew its stake in shares of Mercury Systems by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after buying an additional 41,324 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Mercury Systems by 35.1% in the fourth quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company's stock worth $12,479,000 after buying an additional 77,254 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Mercury Systems Stock Down 2.4%

Mercury Systems stock traded down $1.15 on Wednesday, hitting $46.90. 510,571 shares of the stock traded hands, compared to its average volume of 578,800. Mercury Systems, Inc. has a 1 year low of $26.48 and a 1 year high of $52.25. The firm has a market cap of $2.80 billion, a P/E ratio of -30.06 and a beta of 0.70. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The business's fifty day simple moving average is $46.56 and its 200 day simple moving average is $43.51.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million during the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems's revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted ($0.26) EPS. As a group, sell-side analysts forecast that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling

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

Mercury Systems 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.