Staley Capital Advisers Inc. Has $20.39 Million Position in Mercury Systems Inc (NASDAQ:MRCY)

Key Points

• Staley Capital Advisers Inc. reduced its holdings in Mercury Systems by 3.1%, owning 473,130 shares after selling 14,950 shares in Q1.
• Institutional investors now hold approximately 95.99% of Mercury Systems' stock, with significant growth noted from firms like GAMMA Investing LLC and Fifth Third Bancorp.
• Wall Street analysts have varied price objectives for Mercury Systems, with the consensus rating being "Hold" and a consensus target price of $50.29.

Staley Capital Advisers Inc. lessened its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 3.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 473,130 shares of the technology company's stock after selling 14,950 shares during the period. Mercury Systems accounts for 0.9% of Staley Capital Advisers Inc.'s portfolio, making the stock its 29th largest position. Staley Capital Advisers Inc. owned 0.79% of Mercury Systems worth $20,387,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Sterling Capital Management LLC raised its holdings in Mercury Systems by 762.6% in the fourth 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 during the period. Principal Financial Group Inc. increased its holdings in shares of Mercury Systems by 11.8% in the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company's stock worth $11,848,000 after acquiring an additional 29,074 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Mercury Systems during the 4th quarter valued at about $241,000. Calamos Advisors LLC bought a new stake in Mercury Systems during the 1st quarter worth approximately $848,000. Finally, GAMMA Investing LLC raised its holdings in shares of Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after acquiring an additional 44,926 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRCY. The Goldman Sachs Group lifted their target price on Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Monday, May 12th. Raymond James Financial raised 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. Robert W. Baird boosted their price objective on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Tuesday. 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 report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $56.00 to $68.00 and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.38.

Mercury Systems Stock Up 27.0%

Shares of NASDAQ MRCY traded up $14.44 during trading hours on Tuesday, hitting $68.02. The company had a trading volume of 3,168,462 shares, compared to its average volume of 633,760. Mercury Systems Inc has a 1-year low of $32.32 and a 1-year high of $68.33. The company has a quick ratio of 2.25, a current ratio of 3.44 and a debt-to-equity ratio of 0.41. The firm's 50 day moving average is $52.35 and its 200-day moving average is $48.03. The stock has a market capitalization of $4.06 billion, a P/E ratio of -103.06, a price-to-earnings-growth ratio of 2.51 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 EPS 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 firm had revenue of $273.11 million during the quarter, compared to analysts' expectations of $244.56 million. During the same quarter last year, the company posted $0.23 earnings per share. The company's revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Mercury Systems

In related news, EVP Steven Ratner sold 1,839 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the sale, the executive vice president owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.