Bamco Inc. NY Increases Stock Position in Mercury Systems Inc $MRCY

Bamco Inc. NY raised its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,295,284 shares of the technology company’s stock after purchasing an additional 60,483 shares during the quarter. Bamco Inc. NY owned 2.16% of Mercury Systems worth $100,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MRCY. Aquatic Capital Management LLC bought a new position in shares of Mercury Systems in the 3rd quarter worth $1,176,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Mercury Systems during the 3rd quarter worth $1,013,000. Creative Planning lifted its holdings in shares of Mercury Systems by 56.7% during the 3rd quarter. Creative Planning now owns 24,814 shares of the technology company’s stock worth $1,921,000 after acquiring an additional 8,975 shares during the last quarter. Raymond James Financial Inc. grew its position in Mercury Systems by 15.9% in the third quarter. Raymond James Financial Inc. now owns 192,889 shares of the technology company’s stock worth $14,930,000 after acquiring an additional 26,411 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Mercury Systems by 3.6% in the third quarter. California State Teachers Retirement System now owns 48,527 shares of the technology company’s stock valued at $3,756,000 after acquiring an additional 1,679 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

Mercury Systems stock opened at $78.16 on Friday. The firm has a fifty day simple moving average of $90.06 and a two-hundred day simple moving average of $79.43. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84. The company has a market capitalization of $4.69 billion, a PE ratio of -147.47, a P/E/G ratio of 7.57 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data 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 positive return on equity of 1.28% and a negative net margin of 3.23%.The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share. Research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp sold 100,899 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the transaction, the director directly owned 4,114,618 shares in the company, valued at $368,998,942.24. This trade represents a 2.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stuart Kupinsky sold 2,287 shares of Mercury Systems stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $191,101.72. Following the completion of the transaction, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MRCY has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research report on Wednesday, February 4th. Truist Financial raised their price objective on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.89.

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.