Bamco Inc. NY Cuts Position in Mercury Systems Inc $MRCY

Bamco Inc. NY trimmed its position in Mercury Systems Inc (NASDAQ:MRCY) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835,823 shares of the technology company’s stock after selling 459,461 shares during the quarter. Bamco Inc. NY owned 1.39% of Mercury Systems worth $61,023,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Signaturefd LLC raised its holdings in shares of Mercury Systems by 15.4% in the 4th quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock worth $59,000 after purchasing an additional 107 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Mercury Systems by 1.8% in the 4th quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after purchasing an additional 134 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Mercury Systems by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,175 shares of the technology company’s stock worth $555,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC increased its holdings in Mercury Systems by 11.3% in the 4th quarter. GAMMA Investing LLC now owns 1,781 shares of the technology company’s stock valued at $130,000 after purchasing an additional 181 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock valued at $880,000 after purchasing an additional 187 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mercury Systems news, EVP David E. Farnsworth sold 3,625 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president directly owned 157,701 shares of the company’s stock, valued at $13,384,083.87. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard L. Lance sold 9,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total value of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,875 shares of company stock valued at $2,040,874. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group increased their price target on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. The Goldman Sachs Group increased their price target on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price target on shares of Mercury Systems in a report on Monday, June 1st. Two investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Price Performance

Shares of MRCY stock opened at $115.50 on Thursday. The company has a market capitalization of $6.93 billion, a PE ratio of -481.25 and a beta of 0.94. The firm has a fifty day simple moving average of $94.69 and a 200-day simple moving average of $86.89. 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 twelve month low of $49.03 and a twelve month high of $122.17.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. Equities research analysts anticipate that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

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.