Mercury Systems Inc $MRCY Shares Sold by Neo Ivy Capital Management

Neo Ivy Capital Management lowered its stake in Mercury Systems Inc (NASDAQ:MRCY) by 80.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,844 shares of the technology company’s stock after selling 40,788 shares during the period. Neo Ivy Capital Management’s holdings in Mercury Systems were worth $762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MRCY. Osaic Holdings Inc. raised its stake in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in Mercury Systems during the 3rd quarter valued at about $32,000. Federated Hermes Inc. acquired a new position in shares of Mercury Systems in the second quarter valued at about $43,000. AlphaQuest LLC increased its holdings in shares of Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Mercury Systems by 33.7% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after purchasing an additional 234 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRCY has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. The Goldman Sachs Group increased their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Truist Financial raised their price target 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. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Finally, Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.89.

Insider Activity at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,287 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total value of $191,101.72. Following the transaction, the executive vice president directly owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Douglas Munro sold 582 shares of Mercury Systems stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the completion of the sale, the chief accounting officer owned 14,328 shares in the company, valued at approximately $1,197,247.68. The trade was a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 859,758 shares of company stock worth $74,481,931 in the last ninety days. 1.40% of the stock is owned by company insiders.

Mercury Systems Trading Up 1.7%

Shares of MRCY stock opened at $86.42 on Friday. Mercury Systems Inc has a 1-year low of $39.89 and a 1-year high of $103.84. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -163.06, a PEG ratio of 8.37 and a beta of 0.77. 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 stock has a 50 day simple moving average of $89.04 and a 200-day simple moving average of $78.80.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. On average, equities research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current fiscal 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.