Tudor Investment Corp ET AL Decreases Stock Position in Mercury Systems Inc $MRCY

Key Points

• Tudor Investment Corp. cut its stake in Mercury Systems by 56.3% in Q3, selling 51,511 shares and retaining 39,923 shares valued at about $3.09 million.
• Insiders have been heavy net sellers recently—a total of 859,758 shares worth roughly $74.48 million were sold over the last 90 days, including Director Howard L. Lance's sale of 4,832 shares.
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and an average price target of $86.89, while the company recently beat quarterly estimates (EPS $0.16 vs $0.07; revenue $232.9M vs $210.0M).

Tudor Investment Corp ET AL lessened its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 56.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,923 shares of the technology company's stock after selling 51,511 shares during the period. Tudor Investment Corp ET AL owned 0.07% of Mercury Systems worth $3,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems in the third quarter worth about $32,000. AlphaQuest LLC grew its holdings in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock valued at $44,000 after buying an additional 168 shares in the last quarter. Osaic Holdings Inc. increased its stake in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after acquiring an additional 208 shares during the last quarter. Federated Hermes Inc. bought a new stake in Mercury Systems in the 2nd quarter worth approximately $43,000. Finally, Wexford Capital LP purchased a new stake in shares of Mercury Systems during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 95.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MRCY shares. Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Truist Financial boosted their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. Finally, Jefferies Financial Group restated a "hold" rating and set a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mercury Systems has a consensus rating of "Hold" and an average price target of $86.89.

Insider Activity

In related news, Director Howard L. Lance sold 4,832 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $88.98, for a total value of $429,951.36. Following the sale, the director directly owned 27,272 shares of the company's stock, valued at $2,426,662.56. This represents a 15.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Douglas Munro sold 582 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $48,631.92. Following the completion of the sale, the chief accounting officer directly owned 14,328 shares of the company's stock, valued at approximately $1,197,247.68. The trade was a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 859,758 shares of company stock worth $74,481,931 over the last 90 days. Insiders own 1.40% of the company's stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $76.16 on Friday. The company has a market cap of $4.57 billion, a P/E ratio of -143.70, a P/E/G ratio of 7.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The business's 50 day moving average price is $87.53 and its 200-day moving average price is $79.99. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.09. The company had revenue of $232.87 million during the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.Mercury Systems's revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current year.

About Mercury Systems

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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