Cinctive Capital Management LP Makes New Investment in Mercury Systems Inc $MRCY

Cinctive Capital Management LP acquired a new position in Mercury Systems Inc (NASDAQ:MRCY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 147,444 shares of the technology company’s stock, valued at approximately $10,765,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Mercury Systems by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock worth $443,582,000 after purchasing an additional 221,093 shares in the last quarter. State Street Corp raised its stake in Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after purchasing an additional 368,242 shares in the last quarter. First Trust Advisors LP raised its stake in 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 worth $118,640,000 after purchasing an additional 751,813 shares in the last quarter. Invesco Ltd. raised its stake in Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after purchasing an additional 943,736 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Mercury Systems by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,368,659 shares of the technology company’s stock worth $99,940,000 after purchasing an additional 47,174 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, Canaccord Genuity Group raised their target price on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $115.50 on Thursday. The firm has a 50 day moving average of $94.69 and a 200-day moving average of $86.89. The stock has a market capitalization of $6.93 billion, a PE ratio of -481.25 and a beta of 0.94. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12 month low of $49.03 and a 12 month high of $122.17.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 EPS. On average, equities research analysts predict that Mercury Systems Inc will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David E. Farnsworth sold 3,625 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total transaction of $307,653.75. Following the completion of the transaction, the executive vice president owned 157,701 shares of the company’s stock, valued at $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Mercury Systems 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.