Public Sector Pension Investment Board Raises Position 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 lifted its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 27.1% during the first quarter, according to its most recent 13F filing with the Securities and 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 about 0.27% of Mercury Systems worth $6,930,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, EVP Steven Ratner sold 1,839 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $53.48, for a total value of $98,349.72. Following the completion of the sale, the executive vice president directly owned 35,174 shares of the company's stock, valued at approximately $1,881,105.52. This trade represents a 4.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the transaction, the director directly owned 5,964,313 shares of the company's stock, valued at approximately $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on MRCY shares. Truist Financial increased their target price 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 increased their target price 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. Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their price objective on shares of Mercury Systems from $50.00 to $55.00 and gave the company a "sector perform" rating in a research report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research report 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.71.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded down $2.58 on Tuesday, hitting $64.22. 490,268 shares of the company traded hands, compared to its average volume of 620,634. The company has a current ratio of 3.52, a quick ratio of 2.41 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $69.95. The firm's 50-day simple moving average is $53.51 and its 200 day simple moving average is $48.82. The company has a market cap of $3.85 billion, a P/E ratio of -97.30, a P/E/G ratio of 3.13 and a beta of 0.72.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping 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 company's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

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.