Teachers Retirement System of The State of Kentucky Raises Position in Mercury Systems Inc $MRCY

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 157.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,536 shares of the technology company’s stock after purchasing an additional 21,140 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.06% of Mercury Systems worth $2,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MRCY. Fifth Third Bancorp lifted its position in Mercury Systems by 22,232.9% during the first quarter. Fifth Third Bancorp now owns 267,101 shares of the technology company’s stock worth $19,474,000 after buying an additional 265,905 shares during the period. Swedbank AB grew its holdings in Mercury Systems by 44.1% in the 1st quarter. Swedbank AB now owns 55,259 shares of the technology company’s stock valued at $4,029,000 after buying an additional 16,910 shares during the period. Abel Hall LLC purchased a new stake in Mercury Systems in the 1st quarter valued at about $224,000. Y Intercept Hong Kong Ltd purchased a new stake in Mercury Systems in the 1st quarter valued at about $234,000. Finally, Keybank National Association OH increased its stake in shares of Mercury Systems by 20.0% during the 1st quarter. Keybank National Association OH now owns 5,216 shares of the technology company’s stock valued at $380,000 after acquiring an additional 869 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the topic of several recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $115.00 price objective on shares of Mercury Systems in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Canaccord Genuity Group increased their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Moderate Buy” and an average price target of $95.78.

Insider Buying and Selling at Mercury Systems

In related news, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director directly owned 52,448 shares of the company’s stock, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,875 shares of company stock valued at $2,040,874 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $100.32 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. Mercury Systems Inc has a 1-year low of $49.86 and a 1-year high of $128.45. The firm has a market capitalization of $6.02 billion, a P/E ratio of -418.00 and a beta of 0.93. The business’s 50-day simple moving average is $106.99 and its 200-day simple moving average is $92.43.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results 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 firm had revenue of $235.76 million during the quarter, compared to the consensus estimate of $208.56 million. During the same quarter in the prior year, the company earned $0.06 EPS. The company’s revenue was up 11.5% on a year-over-year basis. Equities analysts predict that Mercury Systems Inc will post 0.3 EPS for the current 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.