Crestline Management LP Reduces Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Crestline Management LP lessened its holdings in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 86.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,935 shares of the technology company’s stock after selling 225,746 shares during the period. Crestline Management LP owned about 0.06% of Mercury Systems worth $1,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Conestoga Capital Advisors LLC increased its stake in shares of Mercury Systems by 55.9% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after buying an additional 743,552 shares during the period. Fisher Asset Management LLC purchased a new position in Mercury Systems during the 4th quarter valued at $16,601,000. First Trust Advisors LP raised its holdings in Mercury Systems by 50.8% in the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock worth $41,535,000 after purchasing an additional 333,109 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock worth $86,526,000 after purchasing an additional 294,747 shares during the period. Finally, Kennedy Capital Management LLC boosted its stake in shares of Mercury Systems by 146.9% during the 4th quarter. Kennedy Capital Management LLC now owns 466,177 shares of the technology company’s stock valued at $19,579,000 after purchasing an additional 277,355 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Insider Buying and Selling at Mercury Systems

In related news, EVP Stuart Kupinsky sold 2,377 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $104,873.24. Following the sale, the executive vice president now directly owns 62,834 shares of the company’s stock, valued at $2,772,236.08. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 2,342 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $103,329.04. Following the completion of the transaction, the chief operating officer now directly owns 95,928 shares of the company’s stock, valued at approximately $4,232,343.36. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,314 shares of company stock worth $234,454. Insiders own 1.60% of the company’s stock.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $46.01 on Friday. The business has a fifty day moving average price of $46.09 and a 200-day moving average price of $42.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The company has a market capitalization of $2.75 billion, a PE ratio of -29.49 and a beta of 0.70. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned ($0.26) EPS. As a group, equities analysts expect that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $56.00 in a report on Thursday, March 13th. Royal Bank of Canada raised their target price on Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday. Baird R W raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $37.00 to $58.00 in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group upped their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.00.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.