New York State Common Retirement Fund Has $10.11 Million Position in Mercury Systems Inc $MRCY

New York State Common Retirement Fund grew its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 703.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,591 shares of the technology company’s stock after buying an additional 114,334 shares during the quarter. New York State Common Retirement Fund owned 0.22% of Mercury Systems worth $10,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Osaic Holdings Inc. increased its stake in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after acquiring an additional 208 shares during the period. Salomon & Ludwin LLC acquired a new stake in Mercury Systems during the third quarter valued at approximately $32,000. Quaker Wealth Management LLC boosted its holdings in Mercury Systems by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after purchasing an additional 1,288 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Mercury Systems in the 2nd quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Mercury Systems by 33.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after buying an additional 234 shares in the last quarter. 95.99% of the stock is owned by institutional investors.

Mercury Systems Trading Up 5.7%

Shares of NASDAQ MRCY opened at $99.28 on Wednesday. Mercury Systems Inc has a 1-year low of $39.89 and a 1-year high of $103.84. The company has a 50-day moving average of $82.80 and a two-hundred day moving average of $74.30. The company has a market cap of $5.97 billion, a PE ratio of -174.18, a P/E/G ratio of 4.16 and a beta of 0.75. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.08 by $0.18. Mercury Systems had a negative net margin of 3.53% and a positive return on equity of 1.14%. The business had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. During the same period in the prior year, the firm earned $0.04 earnings per share. Mercury Systems’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on MRCY shares. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Truist Financial set a $102.00 price objective on Mercury Systems in a report on Friday, January 9th. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, January 20th. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 target price on shares of Mercury Systems in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $95.00 price target on shares of Mercury Systems and gave the company an “outperform” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price of $83.25.

Insider Activity

In related news, CAO Douglas Munro sold 1,329 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $73.42, for a total value of $97,575.18. Following the transaction, the chief accounting officer owned 14,678 shares in the company, valued at $1,077,658.76. This trade represents a 8.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $75.45, for a total value of $75,450,000.00. Following the sale, the director directly owned 4,966,675 shares of the company’s stock, valued at $374,735,628.75. This represents a 16.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,003,029 shares of company stock valued at $75,673,358. Company insiders own 1.40% of the company’s stock.

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.