Neo Ivy Capital Management Sells 40,788 Shares of Mercury Systems Inc $MRCY

Neo Ivy Capital Management cut its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 80.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,844 shares of the technology company’s stock after selling 40,788 shares during the quarter. Neo Ivy Capital Management’s holdings in Mercury Systems were worth $762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new position in shares of Mercury Systems during the third quarter valued at $254,000. Cresset Asset Management LLC purchased a new stake in Mercury Systems in the third quarter worth about $1,862,000. Picton Mahoney Asset Management bought a new position in Mercury Systems during the 3rd quarter worth about $367,000. Fisher Asset Management LLC grew its holdings in Mercury Systems by 21.3% during the 3rd quarter. Fisher Asset Management LLC now owns 875,279 shares of the technology company’s stock worth $67,747,000 after acquiring an additional 153,946 shares in the last quarter. Finally, Journey Strategic Wealth LLC purchased a new position in Mercury Systems during the 3rd quarter valued at about $236,000. Institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MRCY. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Truist Financial lifted their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $85.00 price target on shares of Mercury Systems in a research report on Sunday, February 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $86.89.

Insiders Place Their Bets

In other Mercury Systems news, EVP Stuart Kupinsky sold 2,287 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $191,101.72. Following the completion of the sale, the executive vice president directly owned 68,010 shares in the company, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jana Partners Management, Lp sold 400,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $81.00, for a total value of $32,400,000.00. Following the completion of the sale, the director directly owned 4,566,675 shares of the company’s stock, valued at approximately $369,900,675. This represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is currently owned by corporate insiders.

Mercury Systems Price Performance

NASDAQ MRCY opened at $86.42 on Friday. The firm’s fifty day simple moving average is $89.04 and its two-hundred day simple moving average is $78.80. 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 12-month low of $39.89 and a 12-month high of $103.84. The firm has a market capitalization of $5.19 billion, a P/E ratio of -163.06, a P/E/G ratio of 8.37 and a beta of 0.77.

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