Legato Capital Management LLC Has $3.02 Million Position in Mercury Systems Inc $MRCY

Legato Capital Management LLC raised its stake in Mercury Systems Inc (NASDAQ:MRCY) by 71.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,396 shares of the technology company’s stock after purchasing an additional 17,311 shares during the period. Legato Capital Management LLC’s holdings in Mercury Systems were worth $3,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Mercury Systems by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after purchasing an additional 221,093 shares during the last quarter. State Street Corp increased its holdings in shares of Mercury Systems by 8.7% in the second quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock valued at $174,860,000 after purchasing an additional 259,388 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after purchasing an additional 751,813 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Mercury Systems by 161.7% in 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 increased its holdings in shares of 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 during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MRCY shares. Royal Bank Of Canada restated an “outperform” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. The Goldman Sachs Group upped their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Canaccord Genuity Group upped their price target 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, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Mercury Systems currently has an average rating of “Moderate Buy” and an average target price of $89.89.

Mercury Systems Trading Up 2.3%

MRCY opened at $98.55 on Friday. Mercury Systems Inc has a twelve month low of $45.88 and a twelve month high of $103.84. The company has a 50-day simple moving average of $82.43 and a 200 day simple moving average of $81.85. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -410.63 and a beta of 0.83.

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, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. Analysts predict that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, EVP David E. Farnsworth sold 3,625 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the transaction, the executive vice president owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares of the company’s stock, valued at $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 469,514 shares of company stock valued at $42,960,291 over the last three months. 1.40% of the stock is owned by insiders.

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.