Greenwood Capital Associates LLC Takes $434,000 Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Greenwood Capital Associates LLC acquired a new position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,077 shares of the technology company’s stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MRCY. Neo Ivy Capital Management acquired a new stake in Mercury Systems in the fourth quarter worth $33,000. GAMMA Investing LLC raised its stake in Mercury Systems by 59.6% during the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after buying an additional 395 shares during the period. Fifth Third Bancorp lifted its holdings in Mercury Systems by 53.8% during the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after acquiring an additional 451 shares in the last quarter. Sterling Capital Management LLC grew its stake in Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after acquiring an additional 1,449 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Mercury Systems in the fourth quarter valued at about $75,000. Institutional investors own 95.99% of the company’s stock.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now directly owns 56,187 shares of the company’s stock, valued at approximately $2,680,119.90. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Mercury Systems Price Performance

NASDAQ MRCY opened at $51.57 on Friday. The firm’s 50 day moving average is $48.33 and its 200-day moving average is $44.64. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $3.08 billion, a PE ratio of -33.06 and a beta of 0.68. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $54.32.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MRCY shares. The Goldman Sachs Group lifted their price objective on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a report on Monday, May 12th. Truist Financial lifted their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $47.29.

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.