Peregrine Capital Management LLC Has $10.38 Million Position in Mercury Systems Inc $MRCY

Peregrine Capital Management LLC boosted its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 6,562.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,178 shares of the technology company’s stock after purchasing an additional 140,044 shares during the period. Peregrine Capital Management LLC’s holdings in Mercury Systems were worth $10,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRCY. Vanguard Group Inc. boosted its stake in shares of Mercury Systems by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after buying an additional 221,093 shares during the period. State Street Corp raised its holdings in shares of Mercury Systems by 8.7% during the second quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after acquiring an additional 259,388 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after acquiring an additional 751,813 shares in the last quarter. Invesco Ltd. boosted its position in Mercury Systems by 161.7% during the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in Mercury Systems by 4.9% in the third quarter. Bamco Inc. NY now owns 1,295,284 shares of the technology company’s stock valued at $100,255,000 after purchasing an additional 60,483 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

MRCY traded down $1.98 on Thursday, hitting $80.63. The company had a trading volume of 14,209 shares, compared to its average volume of 633,971. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -152.14, a price-to-earnings-growth ratio of 8.07 and a beta of 0.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The company’s fifty day moving average price is $82.06 and its 200 day moving average price is $80.52. Mercury Systems Inc has a 1-year low of $44.01 and a 1-year high of $103.84.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to the consensus estimate of $209.96 million. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Truist Financial boosted their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday. The Goldman Sachs Group raised 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. Finally, Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and an average target price of $86.33.

Insiders Place Their Bets

In other Mercury Systems news, EVP Stuart Kupinsky sold 2,287 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $191,101.72. Following the completion of the sale, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This represents a 3.25% 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 400,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the completion of the sale, the director directly owned 4,566,675 shares in the company, valued at approximately $369,900,675. This represents a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 863,383 shares of company stock worth $74,789,584 in the last ninety days. 1.40% of the stock is owned by insiders.

Mercury Systems Company 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.