Public Sector Pension Investment Board Grows Position in Mercury Systems Inc (NASDAQ:MRCY)

Public Sector Pension Investment Board raised its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 27.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 160,827 shares of the technology company’s stock after acquiring an additional 34,335 shares during the quarter. Public Sector Pension Investment Board’s holdings in Mercury Systems were worth $6,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Mercury Systems during the fourth quarter valued at about $33,000. GAMMA Investing LLC increased its position in shares of Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock valued at $46,000 after buying an additional 395 shares during the period. Fifth Third Bancorp increased its position in shares of Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after buying an additional 451 shares during the period. Sterling Capital Management LLC increased its position in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after buying an additional 1,449 shares during the period. Finally, Nkcfo LLC bought a new stake in shares of Mercury Systems during the first quarter valued at about $72,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mercury Systems news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the transaction, the director directly owned 5,964,313 shares in the company, valued at $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven Ratner sold 1,839 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $53.48, for a total transaction of $98,349.72. Following the transaction, the executive vice president owned 35,174 shares in the company, valued at $1,881,105.52. The trade was a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Mercury Systems Stock Down 0.2%

MRCY stock opened at $66.70 on Friday. The company has a current ratio of 3.52, a quick ratio of 2.25 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $53.25 and its 200 day moving average is $48.53. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -101.06, a price-to-earnings-growth ratio of 3.13 and a beta of 0.72. Mercury Systems Inc has a 1-year low of $32.32 and a 1-year high of $69.95.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million for the quarter, compared to analysts’ expectations of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Mercury Systems’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Sell-side analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MRCY shares. Truist Financial upped their price target on Mercury Systems from $60.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada upped their price target on Mercury Systems from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Thursday, July 3rd. Raymond James Financial upgraded Mercury Systems from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $55.00 to $80.00 in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.13.

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.