Duality Advisers LP Purchases 2,705 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Duality Advisers LP grew its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 14.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 21,205 shares of the technology company’s stock after buying an additional 2,705 shares during the quarter. Duality Advisers LP’s holdings in Mercury Systems were worth $775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its position in shares of Mercury Systems by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 27,911 shares of the technology company’s stock valued at $1,021,000 after buying an additional 357 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Mercury Systems during the fourth quarter valued at about $954,000. WCM Investment Management LLC increased its position in shares of Mercury Systems by 3.0% during the fourth quarter. WCM Investment Management LLC now owns 448,803 shares of the technology company’s stock valued at $16,538,000 after buying an additional 12,982 shares during the period. Cerity Partners LLC purchased a new position in shares of Mercury Systems during the fourth quarter valued at about $1,660,000. Finally, Conestoga Capital Advisors LLC increased its position in shares of Mercury Systems by 13.4% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,450,459 shares of the technology company’s stock valued at $89,613,000 after buying an additional 288,973 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MRCY shares. Truist Financial cut shares of Mercury Systems from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $28.00 in a research report on Wednesday, February 7th. Jefferies Financial Group cut shares of Mercury Systems from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $30.00 in a report on Wednesday, January 3rd. Royal Bank of Canada cut their price objective on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 8th. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.88.

Insider Activity

In other news, CEO William L. Ballhaus purchased 3,653 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $28.22 per share, for a total transaction of $103,087.66. Following the completion of the acquisition, the chief executive officer now directly owns 3,653 shares in the company, valued at approximately $103,087.66. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Charles Roger Iv Wells sold 1,696 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.57, for a total transaction of $50,150.72. Following the transaction, the chief operating officer now owns 105,427 shares in the company, valued at $3,117,476.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Ballhaus acquired 3,653 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $28.22 per share, for a total transaction of $103,087.66. Following the transaction, the chief executive officer now owns 3,653 shares of the company’s stock, valued at $103,087.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 14,133 shares of company stock worth $398,311 and have sold 3,510 shares worth $103,685. Corporate insiders own 1.80% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $28.48 on Thursday. The company’s 50 day moving average price is $28.84 and its 200-day moving average price is $32.45. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $48.65. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. The firm had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $215.41 million. As a group, sell-side analysts predict that Mercury Systems, Inc. will post -1.4 earnings per share for the current year.

About Mercury Systems

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.