Rice Hall James & Associates LLC Makes New $1.99 Million Investment in Mercury Systems Inc (NASDAQ:MRCY)

Rice Hall James & Associates LLC acquired a new position in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 46,238 shares of the technology company's stock, valued at approximately $1,992,000. Rice Hall James & Associates LLC owned approximately 0.08% of Mercury Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Mercury Systems by 0.8% in 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 period. Conestoga Capital Advisors LLC raised its position in shares of Mercury Systems by 8.9% in the first quarter. Conestoga Capital Advisors LLC now owns 2,258,186 shares of the technology company's stock valued at $97,305,000 after purchasing an additional 185,369 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mercury Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after purchasing an additional 52,725 shares during the period. Millennium Management LLC lifted its stake in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after buying an additional 677,894 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Mercury Systems by 50.8% during the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after acquiring an additional 333,109 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Analyst Ratings Changes

MRCY has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price objective on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 3rd. Truist Financial increased their target price on Mercury Systems from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their price target on Mercury Systems from $48.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Finally, The Goldman Sachs Group upped their price objective 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $50.29.

Mercury Systems Stock Performance

MRCY stock traded up $1.59 during midday trading on Wednesday, hitting $51.68. The company's stock had a trading volume of 1,574,246 shares, compared to its average volume of 575,526. Mercury Systems Inc has a 1 year low of $31.66 and a 1 year high of $54.32. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -46.14, a PEG ratio of 10.36 and a beta of 0.71. The stock's 50-day moving average price is $50.02 and its 200 day moving average price is $46.58. The company has a quick ratio of 2.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The firm had revenue of $211.36 million for the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative return on equity of 0.77% and a negative net margin of 7.33%. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. On average, equities analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current year.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the transaction, the executive vice president directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director directly owned 6,861,313 shares in the company, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,883 shares of company stock worth $4,362,791. 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.