Great Lakes Advisors LLC Reduces Stake in Mercury Systems Inc $MRCY

Great Lakes Advisors LLC lessened its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 50.2% in the third quarter, Holdings Channel reports. The institutional investor owned 34,617 shares of the technology company’s stock after selling 34,868 shares during the quarter. Great Lakes Advisors LLC’s holdings in Mercury Systems were worth $2,679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRCY. Loomis Sayles & Co. L P boosted its position in shares of Mercury Systems by 321.7% in the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock valued at $53,462,000 after acquiring an additional 757,216 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Mercury Systems by 287.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock worth $56,328,000 after purchasing an additional 514,756 shares in the last quarter. Emerald Advisers LLC bought a new position in Mercury Systems in the 2nd quarter valued at $24,599,000. Conestoga Capital Advisors LLC grew its position in shares of Mercury Systems by 13.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock valued at $137,824,000 after purchasing an additional 300,749 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Insider Transactions at Mercury Systems

In other news, Director Debora A. Plunkett sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $73.99, for a total value of $125,783.00. Following the completion of the sale, the director directly owned 16,833 shares in the company, valued at approximately $1,245,473.67. The trade was a 9.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Douglas Munro sold 1,329 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $73.42, for a total transaction of $97,575.18. Following the transaction, the chief accounting officer directly owned 14,678 shares in the company, valued at approximately $1,077,658.76. This represents a 8.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,003,029 shares of company stock worth $75,673,358. 1.40% of the stock is currently owned by insiders.

Mercury Systems Price Performance

MRCY opened at $93.88 on Friday. The company has a current ratio of 3.37, a quick ratio of 2.31 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $5.64 billion, a P/E ratio of -164.70, a PEG ratio of 4.36 and a beta of 0.78. The stock has a 50-day moving average price of $81.65 and a 200-day moving average price of $73.52. Mercury Systems Inc has a 12-month low of $39.89 and a 12-month high of $103.84.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. The company had revenue of $225.21 million for the quarter, compared to analysts’ expectations of $207.28 million. Mercury Systems had a positive return on equity of 1.14% and a negative net margin of 3.53%.Mercury Systems’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.04 EPS. Equities analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MRCY. Truist Financial set a $102.00 price objective on Mercury Systems in a research note on Friday, January 9th. The Goldman Sachs Group raised their price target on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $95.00 price objective on shares of Mercury Systems and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.25.

Mercury Systems Company Profile

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.