Staley Capital Advisers Inc. Has $11.76 Million Stake in Mercury Systems Inc $MRCY

Key Points

• Staley Capital Advisers cut its Mercury Systems stake by 60.8% in the fourth quarter, leaving it with 161,100 shares valued at about $11.76 million.
• Mercury Systems reported better-than-expected quarterly results, with EPS of $0.27 versus $0.06 expected and revenue of $235.76 million versus $208.56 million anticipated, while revenue rose 11.5% year over year.
• Insider selling has been notable, with executives and directors selling shares in recent transactions and a total of 472,383 shares sold over the last 90 days; meanwhile, analysts currently rate the stock a Moderate Buy with a consensus target price of $89.89.

Staley Capital Advisers Inc. decreased its position in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 60.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,100 shares of the technology company's stock after selling 250,210 shares during the quarter. Staley Capital Advisers Inc. owned 0.27% of Mercury Systems worth $11,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRCY. Emerald Advisers LLC increased its holdings in Mercury Systems by 16.7% during the third quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company's stock worth $41,261,000 after buying an additional 76,379 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Mercury Systems by 42.8% during the third quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company's stock worth $17,444,000 after buying an additional 67,518 shares during the last quarter. Nordea Investment Management AB acquired a new position in Mercury Systems during the fourth quarter worth approximately $4,954,000. Cresset Asset Management LLC acquired a new position in Mercury Systems during the third quarter worth approximately $1,862,000. Finally, Public Sector Pension Investment Board increased its position in Mercury Systems by 18.7% during the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company's stock worth $15,917,000 after buying an additional 32,443 shares during the last quarter. Institutional investors and hedge funds own 95.99% of the company's stock.

Analyst Ratings Changes

MRCY has been the topic of several research reports. Jefferies Financial Group reiterated a "hold" rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday, May 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. The Goldman Sachs Group upped their target price on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, Truist Financial raised Mercury Systems to a "strong-buy" rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.89.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the sale, the executive vice president directly owned 32,238 shares in the company, valued at $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 472,383 shares of company stock valued at $43,200,024 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Trading Down 2.7%

Shares of NASDAQ:MRCY opened at $92.03 on Friday. The company has a market capitalization of $5.53 billion, a P/E ratio of -383.46, a P/E/G ratio of 8.91 and a beta of 0.83. Mercury Systems Inc has a 1 year low of $44.01 and a 1 year high of $103.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The business's 50 day simple moving average is $81.58 and its 200 day simple moving average is $81.23.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, research analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc NASDAQ: MRCY is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company's products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury's offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.

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