Bamco Inc. NY Purchases 60,483 Shares of Mercury Systems Inc $MRCY

Bamco Inc. NY raised its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 4.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,295,284 shares of the technology company’s stock after purchasing an additional 60,483 shares during the quarter. Bamco Inc. NY’s holdings in Mercury Systems were worth $100,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Mercury Systems in the third quarter valued at about $1,176,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Mercury Systems during the third quarter worth about $1,013,000. Creative Planning boosted its holdings in shares of Mercury Systems by 56.7% during the third quarter. Creative Planning now owns 24,814 shares of the technology company’s stock worth $1,921,000 after purchasing an additional 8,975 shares during the period. Raymond James Financial Inc. grew its stake in shares of Mercury Systems by 15.9% in the third quarter. Raymond James Financial Inc. now owns 192,889 shares of the technology company’s stock worth $14,930,000 after purchasing an additional 26,411 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Mercury Systems by 3.6% in the third quarter. California State Teachers Retirement System now owns 48,527 shares of the technology company’s stock worth $3,756,000 after purchasing an additional 1,679 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Transactions at Mercury Systems

In other news, Director Jana Partners Management, Lp sold 100,899 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the sale, the director owned 4,114,618 shares in the company, valued at approximately $368,998,942.24. The trade was a 2.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Douglas Munro sold 582 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $48,631.92. Following the completion of the sale, the chief accounting officer directly owned 14,328 shares in the company, valued at $1,197,247.68. This represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 859,758 shares of company stock valued at $74,481,931 in the last three months. Company insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

Mercury Systems stock opened at $78.16 on Friday. The stock’s 50 day simple moving average is $90.06 and its two-hundred day simple moving average is $79.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -147.47, a PEG ratio of 7.57 and a beta of 0.77. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $232.87 million for the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. As a group, analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on MRCY. Truist Financial upped their price target on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research report on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.89.

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.