Quest Partners LLC Raises Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Quest Partners LLC increased its position in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 10,995.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,882 shares of the technology company’s stock after purchasing an additional 4,838 shares during the period. Quest Partners LLC’s holdings in Mercury Systems were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MRCY. Louisiana State Employees Retirement System lifted its holdings in shares of Mercury Systems by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the technology company’s stock valued at $710,000 after buying an additional 400 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Mercury Systems by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 29,782 shares of the technology company’s stock worth $879,000 after purchasing an additional 450 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Mercury Systems by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,577 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 514 shares during the period. Iridian Asset Management LLC CT grew its stake in shares of Mercury Systems by 11.4% during the 2nd quarter. Iridian Asset Management LLC CT now owns 9,464 shares of the technology company’s stock worth $255,000 after purchasing an additional 972 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Mercury Systems by 1,126.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $31,000 after purchasing an additional 1,070 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling

In other Mercury Systems news, EVP Stephanie Georges sold 1,340 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $1,273,907.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Stephanie Georges sold 1,340 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total transaction of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares of the company’s stock, valued at approximately $1,273,907.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Debora A. Plunkett sold 1,843 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $38.07, for a total transaction of $70,163.01. Following the transaction, the director now owns 11,339 shares in the company, valued at $431,675.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,030 shares of company stock worth $863,145. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Truist Financial upped their price target on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Robert W. Baird upped their target price on Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Mercury Systems Stock Down 1.4 %

Shares of NASDAQ:MRCY opened at $37.48 on Tuesday. The company has a quick ratio of 2.64, a current ratio of 4.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.22 billion, a P/E ratio of -15.95 and a beta of 0.69. Mercury Systems, Inc. has a 52-week low of $25.31 and a 52-week high of $42.72. The stock’s fifty day simple moving average is $35.60 and its 200-day simple moving average is $31.43.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.32. The company had revenue of $248.56 million for the quarter, compared to analyst estimates of $223.80 million. Mercury Systems had a negative net margin of 16.48% and a negative return on equity of 4.92%. As a group, equities research analysts forecast that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Mercury Systems Company Profile

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.