Mercury Systems Inc $MRCY Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 94.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,643 shares of the technology company’s stock after purchasing an additional 98,398 shares during the quarter. King Luther Capital Management Corp’s holdings in Mercury Systems were worth $14,795,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG acquired a new stake in Mercury Systems in the fourth quarter worth about $35,000. Federated Hermes Inc. acquired a new stake in Mercury Systems in the second quarter worth about $43,000. AlphaQuest LLC lifted its holdings in Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after purchasing an additional 168 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Mercury Systems by 33.7% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MRCY shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Mercury Systems in a report on Sunday, May 10th. The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Mercury Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.89.

Insider Buying and Selling

In other news, EVP David E. Farnsworth sold 3,625 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at $13,384,083.87. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. This represents a 5.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 473,932 shares of company stock worth $43,453,119 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems Price Performance

NASDAQ MRCY opened at $97.11 on Thursday. The stock’s 50-day moving average price is $83.52 and its two-hundred day moving average price is $82.34. 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 company has a market cap of $5.83 billion, a PE ratio of -404.63 and a beta of 0.83. Mercury Systems Inc has a 1 year low of $47.53 and a 1 year high of $103.84.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. On average, analysts predict that Mercury Systems Inc will post 0.18 EPS for the current year.

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.