Candelo Capital Management LP Takes $1.18 Million Position in Mercury Systems Inc $MRCY

Candelo Capital Management LP purchased a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,300 shares of the technology company’s stock, valued at approximately $1,184,000. Mercury Systems makes up approximately 1.0% of Candelo Capital Management LP’s holdings, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of MRCY. Invesco Ltd. grew 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 valued at $118,224,000 after buying an additional 943,736 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Mercury Systems by 321.7% during the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after acquiring an additional 757,216 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after acquiring an additional 751,813 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mercury Systems by 287.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock worth $56,328,000 after acquiring an additional 514,756 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after purchasing an additional 290,989 shares in the last quarter. 95.99% of the stock is owned by institutional investors.

Mercury Systems Trading Down 4.0%

Shares of MRCY stock opened at $78.16 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. Mercury Systems Inc has a 52-week low of $39.89 and a 52-week high of $103.84. The company has a market capitalization of $4.69 billion, a PE ratio of -147.47, a price-to-earnings-growth ratio of 7.57 and a beta of 0.77. The business’s fifty day moving average is $90.06 and its 200 day moving average is $79.43.

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

Wall Street Analysts Forecast Growth

MRCY has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada restated an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 target price on shares of Mercury Systems in a report on Sunday, February 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Finally, Truist Financial increased their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.89.

Insiders Place Their Bets

In other news, EVP Stuart Kupinsky sold 2,287 shares of Mercury Systems stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the completion of the sale, the executive vice president owned 68,010 shares in the company, valued at approximately $5,682,915.60. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard L. Lance sold 4,832 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total transaction of $429,951.36. Following the completion of the transaction, the director owned 27,272 shares in the company, valued at approximately $2,426,662.56. This trade represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 859,758 shares of company stock worth $74,481,931. Insiders own 1.40% of the company’s stock.

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.