Legato Capital Management LLC Purchases Shares of 13,290 Mercury Systems Inc (NASDAQ:MRCY)

Legato Capital Management LLC purchased a new stake in Mercury Systems Inc (NASDAQ:MRCY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,290 shares of the technology company’s stock, valued at approximately $573,000.

Other hedge funds also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Mercury Systems in the fourth quarter valued at $33,000. GAMMA Investing LLC raised its position in shares of Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after acquiring an additional 395 shares during the period. Fifth Third Bancorp raised its position in shares of Mercury Systems by 53.8% in 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 during the period. Sterling Capital Management LLC raised its position in shares of Mercury Systems by 762.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,449 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Mercury Systems in the fourth quarter worth about $212,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Steven Ratner sold 1,839 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $53.48, for a total value of $98,349.72. Following the transaction, the executive vice president directly owned 35,174 shares in the company, valued at approximately $1,881,105.52. This represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jana Partners Management, Lp sold 88,152 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 6,861,313 shares in the company, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,883 shares of company stock valued at $4,362,791 in the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MRCY shares. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. The Goldman Sachs Group upped their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Royal Bank Of Canada upped their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 3rd. Finally, Truist Financial upped their price target on shares of Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $50.29.

Mercury Systems Stock Up 1.0%

MRCY stock opened at $52.98 on Friday. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -47.30, a PEG ratio of 2.46 and a beta of 0.71. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a 12 month low of $31.66 and a 12 month high of $54.32. The firm has a 50-day moving average of $50.90 and a two-hundred day moving average of $47.06.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $211.36 million during the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. Mercury Systems’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Mercury Systems Company Profile

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.