Two Sigma Investments LP Lowers Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Two Sigma Investments LP trimmed its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 16.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 399,246 shares of the technology company's stock after selling 75,774 shares during the quarter. Two Sigma Investments LP owned approximately 0.67% of Mercury Systems worth $16,768,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC raised its stake in Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock worth $87,058,000 after purchasing an additional 743,552 shares during the period. Millennium Management LLC increased its holdings in shares of Mercury Systems by 196.1% during the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company's stock worth $42,987,000 after buying an additional 677,894 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Mercury Systems during the 4th quarter valued at approximately $16,601,000. First Trust Advisors LP lifted its holdings in Mercury Systems by 50.8% in the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock valued at $41,535,000 after acquiring an additional 333,109 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after acquiring an additional 294,747 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MRCY shares. Truist Financial upgraded Mercury Systems from a "hold" rating to a "buy" rating and increased their price target for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. Baird R W raised Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Royal Bank of Canada raised their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group upped their target price on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a report on Monday, May 12th. Finally, Robert W. Baird upgraded shares of Mercury Systems from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Mercury Systems currently has an average rating of "Hold" and a consensus target price of $46.71.

Insider Buying and Selling at Mercury Systems

In related news, EVP Steven Ratner sold 3,892 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total value of $185,648.40. Following the sale, the executive vice president now directly owns 56,187 shares of the company's stock, valued at approximately $2,680,119.90. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director now directly owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Mercury Systems Price Performance

MRCY stock traded up $1.82 during trading on Tuesday, reaching $49.02. 210,225 shares of the company were exchanged, compared to its average volume of 538,899. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The stock's 50 day moving average price is $46.63 and its 200 day moving average price is $43.77. Mercury Systems, Inc. has a 52-week low of $26.48 and a 52-week high of $52.25. The company has a market cap of $2.93 billion, a P/E ratio of -31.43 and a beta of 0.70.

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, hitting analysts' consensus estimates of $0.06. The business 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 2.03% and a negative net margin of 10.23%. The company's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. As a group, analysts predict that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

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.