Cookson Peirce & Co. Inc. Invests $1.84 Million in Mercury Systems Inc $MRCY

Cookson Peirce & Co. Inc. bought a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 34,217 shares of the technology company’s stock, valued at approximately $1,843,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MetLife Investment Management LLC lifted its position in shares of Mercury Systems by 1,479.5% in the 1st quarter. MetLife Investment Management LLC now owns 492,638 shares of the technology company’s stock worth $21,228,000 after purchasing an additional 461,449 shares during the period. Conestoga Capital Advisors LLC lifted its position in Mercury Systems by 13.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock valued at $137,824,000 after acquiring an additional 300,749 shares during the period. Goldman Sachs Group Inc. lifted its position in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares during the period. Nuveen LLC purchased a new position in Mercury Systems during the 1st quarter valued at about $8,751,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Mercury Systems during the 2nd quarter valued at about $9,068,000. Institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. Raymond James Financial upgraded shares of Mercury Systems from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $55.00 to $80.00 in a research note on Tuesday, August 12th. UBS Group set a $88.00 price target on shares of Mercury Systems in a research note on Thursday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.89.

Insider Buying and Selling

In related news, EVP David E. Farnsworth sold 7,572 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $488,091.12. Following the transaction, the executive vice president owned 161,326 shares in the company, valued at approximately $10,399,073.96. This represents a 4.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jana Partners Management, Lp sold 797,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the sale, the director directly owned 5,964,313 shares in the company, valued at $390,185,356.46. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 848,980 shares of company stock worth $55,529,247 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems Stock Performance

MRCY stock opened at $78.81 on Wednesday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of -119.41, a PEG ratio of 3.15 and a beta of 0.82. The firm has a 50-day simple moving average of $73.22 and a two-hundred day simple moving average of $58.12. Mercury Systems Inc has a one year low of $32.32 and a one year high of $85.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The business had revenue of $256.86 million during the quarter. On average, equities analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.