Manatuck Hill Partners LLC bought a new position in Mercury Systems Inc (NASDAQ:MRCY – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund bought 18,400 shares of the technology company’s stock, valued at approximately $2,251,000.
Several other large investors also recently made changes to their positions in the company. Maryland State Retirement & Pension System raised its holdings in shares of Mercury Systems by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock valued at $563,000 after buying an additional 134 shares during the last quarter. GAMMA Investing LLC grew its holdings in Mercury Systems by 8.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock worth $243,000 after buying an additional 155 shares in the last quarter. Oregon Public Employees Retirement Fund grew 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 worth $880,000 after buying an additional 187 shares in the last quarter. Arizona State Retirement System increased its position in Mercury Systems by 1.3% in the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after acquiring an additional 195 shares during the period. Finally, Focus Partners Wealth increased its position in Mercury Systems by 3.0% in the 3rd quarter. Focus Partners Wealth now owns 6,929 shares of the technology company’s stock valued at $536,000 after acquiring an additional 199 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.
Mercury Systems Price Performance
NASDAQ MRCY opened at $87.74 on Wednesday. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45. The firm has a market capitalization of $5.28 billion, a PE ratio of -175.48 and a beta of 0.95. The company’s 50 day simple moving average is $106.52 and its 200 day simple moving average is $94.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85.
Key Mercury Systems News
Here are the key news stories impacting Mercury Systems this week:
- Neutral Sentiment: Reported short interest was listed at zero shares as of August 25, unchanged from zero shares previously, with a 0.0-day days-to-cover ratio. Because the data also reports an invalid “NaN” percentage change, it provides little useful signal for investors.
- Neutral Sentiment: A law firm is asking Mercury Systems shareholders to discuss their rights and options regarding alleged potential fiduciary-duty breaches. The release is an investor solicitation rather than a confirmed regulatory finding or lawsuit outcome, but it may add headline risk. Shareholder fiduciary-duty solicitation
- Negative Sentiment: CEO William L. Ballhaus sold 65,000 shares for approximately $6.0 million on August 21 at an average price of $92.41, reducing his direct ownership by 20.25%. He sold another 108,209 shares for approximately $9.7 million on August 24 at an average price of $89.50, a 26.52% reduction in ownership. The combined sales of roughly $15.7 million can be viewed as a lack of confidence by some investors, even though insider sales can also reflect diversification or personal financial planning. CEO SEC Form 4 filings
- Negative Sentiment: EVP Stuart Kupinsky sold 1,000 shares for $95,230, while EVP Steven Ratner sold 356 shares for $32,524. Kupinsky’s transaction was executed under a pre-arranged Rule 10b5-1 plan, which somewhat reduces its signaling value, but the additional executive selling reinforces the near-term bearish narrative. Executive SEC Form 4 filings
Insider Buying and Selling
In related news, CAO Douglas Munro sold 548 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $100.31, for a total transaction of $54,969.88. Following the completion of the transaction, the chief accounting officer owned 13,091 shares of the company’s stock, valued at $1,313,158.21. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David E. Farnsworth sold 6,612 shares of Mercury Systems stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $97.67, for a total value of $645,794.04. Following the transaction, the executive vice president directly owned 117,967 shares in the company, valued at approximately $11,521,836.89. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 286,020 shares of company stock worth $27,381,750. 1.40% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. raised their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Canaccord Genuity Group upped their price objective on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Robert W. Baird increased their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average price target of $110.10.
Get Our Latest Stock Analysis on MRCY
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.
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