Portolan Capital Management LLC Acquires Shares of 44,864 Mercury Systems Inc $MRCY

Portolan Capital Management LLC bought a new position in Mercury Systems Inc (NASDAQ:MRCY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 44,864 shares of the technology company’s stock, valued at approximately $3,472,000.

Several other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Mercury Systems in the 1st quarter valued at approximately $755,000. Goldman Sachs Group Inc. grew 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 worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Mercury Systems by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after purchasing an additional 18,916 shares in the last quarter. Jane Street Group LLC raised its stake in Mercury Systems by 161.3% during the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 31,337 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Mercury Systems by 5.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 16,105 shares of the technology company’s stock valued at $867,000 after purchasing an additional 822 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Price Performance

MRCY opened at $78.16 on Friday. The stock has a fifty day moving average price of $90.06 and a 200 day moving average price of $79.34. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a 1 year low of $39.89 and a 1 year high of $103.84. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -147.47, a PEG ratio of 7.89 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Transactions at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,287 shares of the 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 transaction, the executive vice president owned 68,010 shares in the company, valued at approximately $5,682,915.60. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the transaction, the director directly owned 4,566,675 shares in the company, valued at approximately $369,900,675. The trade was a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 859,758 shares of company stock worth $74,481,931. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MRCY. The Goldman Sachs Group raised their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target on shares of Mercury Systems in a research report on Sunday, February 8th. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research note 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, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.