State of Alaska Department of Revenue Increases Holdings in Mercury Systems Inc $MRCY

State of Alaska Department of Revenue grew its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,442 shares of the technology company’s stock after buying an additional 8,365 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Mercury Systems worth $2,805,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Emerald Advisers LLC raised its position in Mercury Systems by 16.7% in the 3rd quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after purchasing an additional 76,379 shares during the period. Mutual of America Capital Management LLC raised its position in Mercury Systems by 42.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company’s stock worth $17,444,000 after purchasing an additional 67,518 shares during the period. Nordea Investment Management AB purchased a new stake in Mercury Systems in the 4th quarter worth about $4,954,000. Cresset Asset Management LLC purchased a new stake in Mercury Systems in the 3rd quarter worth about $1,862,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Mercury Systems by 75.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 27,796 shares of the technology company’s stock worth $2,151,000 after purchasing an additional 11,989 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY opened at $84.91 on Friday. The firm has a market cap of $5.10 billion, a PE ratio of -160.21, a price-to-earnings-growth ratio of 8.28 and a beta of 0.84. The firm’s 50 day simple moving average is $82.02 and its 200-day simple moving average is $80.42. Mercury Systems Inc has a one year low of $44.01 and a one year high of $103.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96.

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

Insider Activity at Mercury Systems

In other news, CAO Douglas Munro sold 582 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $48,631.92. Following the transaction, the chief accounting officer directly owned 14,328 shares of the company’s stock, valued at approximately $1,197,247.68. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stuart Kupinsky sold 2,287 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the transaction, the executive vice president directly owned 68,010 shares in the company, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

MRCY has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reduced their price objective on shares of Mercury Systems from $85.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.33.

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.