Public Sector Pension Investment Board Grows Stake in Mercury Systems Inc $MRCY

Key Points

• The Public Sector Pension Investment Board increased its stake in Mercury Systems Inc by 27.1%, holding 160,827 shares valued at approximately $6.93 million.
• Multiple hedge funds are boosting their positions in Mercury Systems, with significant increases from firms like Millennium Management and First Trust Advisors.
• Equities analysts have raised their price targets for Mercury Systems, with forecasts suggesting a potential price range of $39.00 to $80.00, indicating strong market interest and optimism.

Public Sector Pension Investment Board grew its position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,827 shares of the technology company's stock after buying an additional 34,335 shares during the quarter. Public Sector Pension Investment Board owned 0.27% of Mercury Systems worth $6,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Mercury Systems during the 4th quarter worth approximately $33,000. GAMMA Investing LLC lifted its position in shares of Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after buying an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after buying an additional 451 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock worth $69,000 after buying an additional 1,449 shares in the last quarter. Finally, Nkcfo LLC bought a new position in shares of Mercury Systems during the 1st quarter worth approximately $72,000. Institutional investors own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MRCY. Royal Bank Of Canada lifted their target price on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Truist Financial raised their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group raised their price target on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Mercury Systems Stock Performance

Mercury Systems stock traded up $1.10 during mid-day trading on Thursday, reaching $65.64. The company's stock had a trading volume of 513,988 shares, compared to its average volume of 794,128. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $69.95. The company has a market capitalization of $3.93 billion, a P/E ratio of -99.45, a PEG ratio of 3.03 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The firm's fifty day moving average price is $54.27 and its two-hundred day moving average price is $49.20.

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

Insiders Place Their Bets

In related news, Director Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. The trade was a 11.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $64.46, for a total transaction of $78,641.20. Following the completion of the transaction, the executive vice president owned 70,297 shares of the company's stock, valued at $4,531,344.62. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 843,752 shares of company stock worth $55,176,359 in the last three months. Insiders own 1.60% of the company's stock.

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.