Freemont Management S.A. Takes Position in Mercury Systems Inc $MRCY

Freemont Management S.A. bought a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 1st quarter, Holdings Channel reports. The institutional investor bought 31,700 shares of the technology company’s stock, valued at approximately $2,311,000.

Several other institutional investors have also recently added to or reduced their stakes in MRCY. Signaturefd LLC boosted its holdings in Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after purchasing an additional 107 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Mercury Systems by 1.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock valued at $563,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC raised its holdings in Mercury Systems by 11.3% during the fourth quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock worth $130,000 after purchasing an additional 181 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Mercury Systems by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock worth $880,000 after purchasing an additional 187 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Mercury Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock worth $1,111,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Canaccord Genuity Group upped their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Insider Buying and Selling

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of Mercury Systems stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director directly owned 52,448 shares in the company, valued at approximately $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,250 shares of company stock worth $1,733,220 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $96.08 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a twelve month low of $50.13 and a twelve month high of $128.45. The stock has a 50 day moving average of $107.49 and a two-hundred day moving average of $92.80. The stock has a market cap of $5.77 billion, a P/E ratio of -400.33 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. On average, research analysts forecast that Mercury Systems Inc will post 0.35 earnings per share for the current year.

Mercury Systems 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.