Sterling Capital Management LLC Decreases Stock Position in Mercury Systems Inc $MRCY

Key Points

• Sterling Capital Management cut its stake in Mercury Systems by 36.4% in the first quarter, selling 9,894 shares and leaving it with 17,260 shares worth about $1.26 million.
• Mercury Systems reported stronger-than-expected fiscal Q3 results, with EPS of $0.27 versus $0.06 expected and revenue of $235.76 million, up 11.5% from a year earlier.
• Despite mixed analyst views, the stock has risen sharply, trading near $110.22 and close to its 52-week high of $122.17; insiders have also been selling shares recently.

Sterling Capital Management LLC lessened its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 36.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,260 shares of the technology company's stock after selling 9,894 shares during the quarter. Sterling Capital Management LLC's holdings in Mercury Systems were worth $1,258,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp raised its position in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company's stock valued at $249,957,000 after purchasing an additional 368,242 shares during the last quarter. Invesco Ltd. grew its position in Mercury Systems by 25.1% during the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company's stock worth $139,503,000 after purchasing an additional 383,299 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Mercury Systems by 1.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company's stock worth $112,644,000 after purchasing an additional 21,182 shares during the last quarter. First Trust Advisors LP increased its stake in Mercury Systems by 96.3% during the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company's stock valued at $118,640,000 after purchasing an additional 751,813 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Mercury Systems by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company's stock valued at $99,940,000 after purchasing an additional 47,174 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Mercury Systems Price Performance

Mercury Systems stock opened at $110.22 on Tuesday. The stock has a market capitalization of $6.62 billion, a P/E ratio of -459.25 and a beta of 0.94. The company's fifty day moving average price is $99.22 and its 200 day moving average price is $89.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a 1 year low of $49.54 and a 1 year high of $122.17.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same quarter last year, the business earned $0.06 earnings per share. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a "hold" rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. The Goldman Sachs Group raised their price objective on Mercury Systems from $60.00 to $68.00 and gave the stock a "sell" rating in a research note on Monday, May 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Mercury Systems in a report on Tuesday, April 21st. Canaccord Genuity Group lifted their price target on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Truist Financial raised shares of Mercury Systems to a "strong-buy" rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Mercury Systems presently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Insider Transactions at Mercury Systems

In other news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Orlando D. Carvalho sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director owned 52,448 shares of the company's stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,875 shares of company stock valued at $2,040,874. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems 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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