Intech Investment Management LLC Has $4.94 Million Stock Position in Mercury Systems Inc $MRCY

Intech Investment Management LLC lifted its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 101.3% in the 4th quarter, HoldingsChannel reports. The fund owned 67,627 shares of the technology company’s stock after purchasing an additional 34,036 shares during the period. Intech Investment Management LLC’s holdings in Mercury Systems were worth $4,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB bought a new stake in shares of Mercury Systems during the fourth quarter worth about $4,954,000. Cresset Asset Management LLC bought a new stake in shares of Mercury Systems during the third quarter worth about $1,862,000. Public Sector Pension Investment Board increased its position in shares of Mercury Systems by 18.7% during the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock worth $15,917,000 after acquiring an additional 32,443 shares in the last quarter. Penn Capital Management Company LLC bought a new stake in shares of Mercury Systems during the third quarter worth about $14,292,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Mercury Systems during the third quarter worth about $2,508,000. 95.99% of the stock is owned by institutional investors.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $111.70 on Monday. Mercury Systems Inc has a 52-week low of $47.53 and a 52-week high of $113.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. The company has a 50-day simple moving average of $84.71 and a two-hundred day simple moving average of $82.84. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of -465.42 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MRCY. Canaccord Genuity Group boosted their target price on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $95.00 target price on shares of Mercury Systems in a research report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.89.

Insiders Place Their Bets

In other Mercury Systems news, Director Jana Partners Management, Lp sold 100,899 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total value of $9,048,622.32. Following the completion of the sale, the director directly owned 4,114,618 shares of the company’s stock, valued at approximately $368,998,942.24. This represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total transaction of $307,653.75. Following the completion of the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 291,422 shares of company stock worth $26,288,054 in the last ninety days. 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.