Teacher Retirement System of Texas Acquires Shares of 7,409 Mercury Systems Inc (NASDAQ:MRCY)

Teacher Retirement System of Texas bought a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,409 shares of the technology company's stock, valued at approximately $319,000.

Several other hedge funds have also bought and sold shares of MRCY. Neo Ivy Capital Management purchased a new stake in Mercury Systems in the fourth quarter worth approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 395 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company's stock valued at $69,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Mercury Systems during the 4th quarter valued at $204,000. 95.99% of the stock is currently owned by institutional investors.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY traded down $0.51 during midday trading on Friday, reaching $51.69. 1,073,390 shares of the company's stock traded hands, compared to its average volume of 574,339. Mercury Systems Inc has a one year low of $31.66 and a one year high of $54.32. The stock has a 50 day moving average of $50.25 and a 200 day moving average of $46.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.25 and a current ratio of 3.44. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -46.15, a P/E/G ratio of 2.42 and a beta of 0.71.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate 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 company's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) EPS. As a group, equities research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MRCY shares. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a "sell" rating in a report on Monday, May 12th. Truist Financial boosted their price objective on shares of Mercury Systems from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada raised their target price 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Mercury Systems has a consensus rating of "Hold" and a consensus price target of $50.29.

Insider Activity

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the sale, the director 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,883 shares of company stock valued at $4,362,791 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Mercury Systems Company 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.