Mercury Systems Inc $MRCY Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,175 shares of the technology company’s stock after selling 6,003 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.23% of Mercury Systems worth $9,929,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new position in shares of Mercury Systems during the fourth quarter valued at approximately $4,954,000. Cresset Asset Management LLC purchased a new position in shares of Mercury Systems in the third quarter valued at approximately $1,862,000. Penn Capital Management Company LLC acquired a new stake in shares of Mercury Systems in the third quarter worth approximately $14,292,000. One Capital Management LLC boosted its stake in shares of Mercury Systems by 43.6% in the fourth quarter. One Capital Management LLC now owns 29,300 shares of the technology company’s stock worth $2,139,000 after acquiring an additional 8,893 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Mercury Systems by 45.6% during the fourth quarter. Bessemer Group Inc. now owns 399,496 shares of the technology company’s stock worth $29,168,000 after purchasing an additional 125,194 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. The Goldman Sachs Group upped their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group reissued a “hold” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Monday, June 1st. Finally, Canaccord Genuity Group boosted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Stock Performance

Shares of Mercury Systems stock opened at $122.33 on Wednesday. The business’s 50 day moving average price is $99.99 and its 200 day moving average price is $89.48. The company has a market cap of $7.34 billion, a price-to-earnings ratio of -509.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a one year low of $49.54 and a one year high of $122.64.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same period in the prior year, the business earned $0.06 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Mercury Systems Inc will post 0.31 EPS for the current year.

Insider Activity

In related news, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total transaction of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,875 shares of company stock worth $2,040,874. Company insiders own 1.40% of the company’s stock.

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.