Two Sigma Advisers LP Decreases Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Two Sigma Advisers LP cut its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 4.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 226,800 shares of the technology company’s stock after selling 10,400 shares during the quarter. Two Sigma Advisers LP’s holdings in Mercury Systems were worth $9,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MRCY. Conestoga Capital Advisors LLC boosted its stake in shares of Mercury Systems by 55.9% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after purchasing an additional 743,552 shares during the period. Millennium Management LLC boosted its stake in shares of Mercury Systems by 196.1% in the fourth quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after purchasing an additional 677,894 shares during the period. Fisher Asset Management LLC purchased a new position in shares of Mercury Systems in the fourth quarter valued at $16,601,000. First Trust Advisors LP boosted its stake in shares of Mercury Systems by 50.8% in the fourth quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock valued at $41,535,000 after purchasing an additional 333,109 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Mercury Systems by 16.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after purchasing an additional 294,747 shares during the period. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MRCY. Royal Bank of Canada upped their price target on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday, May 7th. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $56.00 in a research note on Thursday, March 13th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group increased their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.71.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now directly owns 56,187 shares of the company’s stock, valued at approximately $2,680,119.90. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director now directly owns 6,861,313 shares in the company, valued at $317,472,952.51. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Stock Up 0.0%

Shares of NASDAQ:MRCY opened at $46.91 on Friday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -30.07 and a beta of 0.70. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25. The company’s fifty day moving average is $46.58 and its two-hundred day moving average is $43.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to analysts’ expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) earnings per share. Equities analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS 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.