Gabelli Funds LLC Has $2.11 Million Position in Mercury Systems Inc $MRCY

Gabelli Funds LLC increased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 242.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,893 shares of the technology company’s stock after buying an additional 20,455 shares during the quarter. Gabelli Funds LLC’s holdings in Mercury Systems were worth $2,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Mercury Systems by 4.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,045 shares of the technology company’s stock valued at $514,000 after acquiring an additional 319 shares in the last quarter. Swiss National Bank grew its stake in shares of Mercury Systems by 0.4% during the 1st quarter. Swiss National Bank now owns 106,900 shares of the technology company’s stock worth $7,794,000 after acquiring an additional 400 shares in the last quarter. Freemont Management S.A. acquired a new stake in shares of Mercury Systems in the first quarter valued at approximately $2,311,000. Jennison Associates LLC raised its holdings in shares of Mercury Systems by 52.9% in the first quarter. Jennison Associates LLC now owns 688,114 shares of the technology company’s stock valued at $50,170,000 after purchasing an additional 238,147 shares during the last quarter. Finally, Future Fund LLC lifted its position in shares of Mercury Systems by 66.1% in the first quarter. Future Fund LLC now owns 48,645 shares of the technology company’s stock worth $3,547,000 after purchasing an additional 19,365 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling

In other Mercury Systems news, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,250 shares of company stock worth $1,733,220. Company insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $90.17 on Thursday. The firm has a market capitalization of $5.41 billion, a P/E ratio of -375.71 and a beta of 0.93. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $108.51 and its two-hundred day moving average price is $94.06. Mercury Systems Inc has a 1 year low of $50.13 and a 1 year high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released 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. The company had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. As a group, research analysts anticipate that Mercury Systems Inc will post 0.35 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MRCY. JPMorgan Chase & Co. increased their target price on shares of Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Monday, July 13th. Canaccord Genuity Group lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Friday, July 17th. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $95.78.

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.