Pier Capital LLC Takes Position in Mercury Systems Inc $MRCY

Pier Capital LLC purchased a new position in Mercury Systems Inc (NASDAQ:MRCY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,567 shares of the technology company’s stock, valued at approximately $4,610,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in Mercury Systems by 161.7% during the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after buying an additional 943,736 shares during the period. Loomis Sayles & Co. L P increased its stake in Mercury Systems by 321.7% in the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after acquiring an additional 757,216 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Mercury Systems by 96.3% in the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after acquiring an additional 751,813 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Mercury Systems by 287.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after acquiring an additional 514,756 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after acquiring an additional 290,989 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $81.44 on Friday. The firm has a market capitalization of $4.89 billion, a PE ratio of -153.66, a price-to-earnings-growth ratio of 8.33 and a beta of 0.77. 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 business’s 50-day moving average price is $90.02 and its 200-day moving average price is $79.27.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $232.87 million during 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%.Mercury Systems’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. Sell-side analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,287 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $191,101.72. Following the transaction, the executive vice president owned 68,010 shares of the company’s stock, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction 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. This represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

MRCY has been the topic of several research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price objective on shares of Mercury Systems in a research report on Sunday, February 8th. Truist Financial lifted their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group boosted their price target on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. One equities research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $86.89.

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.