King Luther Capital Management Corp Buys 13,051 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

King Luther Capital Management Corp boosted its stake in Mercury Systems, Inc. (NASDAQ:MRCY) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,177 shares of the technology company’s stock after acquiring an additional 13,051 shares during the period. King Luther Capital Management Corp owned 0.18% of Mercury Systems worth $2,920,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Mercury Systems by 1,126.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $31,000 after acquiring an additional 1,070 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mercury Systems by 216.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock valued at $64,000 after buying an additional 1,622 shares during the period. nVerses Capital LLC acquired a new position in Mercury Systems in the second quarter valued at approximately $81,000. Quest Partners LLC lifted its stake in Mercury Systems by 10,995.5% in the second quarter. Quest Partners LLC now owns 4,882 shares of the technology company’s stock valued at $132,000 after buying an additional 4,838 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Mercury Systems by 625.7% in the second quarter. Headlands Technologies LLC now owns 5,726 shares of the technology company’s stock valued at $155,000 after buying an additional 4,937 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MRCY has been the topic of several recent analyst reports. Truist Financial boosted their price target on Mercury Systems from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on Mercury Systems from $26.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price target on the stock in a research note on Monday, August 19th. Royal Bank of Canada upped their target price on Mercury Systems from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 14th. Finally, StockNews.com lowered Mercury Systems from a “hold” rating to a “sell” rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.50.

Mercury Systems Trading Up 1.0 %

Shares of Mercury Systems stock opened at $35.90 on Friday. The stock has a fifty day simple moving average of $36.03 and a 200 day simple moving average of $31.60. Mercury Systems, Inc. has a 12-month low of $25.31 and a 12-month high of $42.72. The company has a market capitalization of $2.13 billion, a P/E ratio of -15.28 and a beta of 0.69. The company has a current ratio of 4.07, a quick ratio of 2.64 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The business had revenue of $248.56 million during the quarter, compared to the consensus estimate of $223.80 million. On average, sell-side analysts anticipate that Mercury Systems, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Charles Roger Iv Wells sold 1,346 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $53,153.54. Following the completion of the sale, the chief operating officer now owns 130,408 shares in the company, valued at $5,149,811.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Mercury Systems news, CFO David E. Farnsworth sold 6,716 shares of the company’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 $265,214.84. Following the completion of the transaction, the chief financial officer now owns 140,778 shares in the company, valued at approximately $5,559,323.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charles Roger Iv Wells sold 1,346 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $53,153.54. Following the completion of the transaction, the chief operating officer now owns 130,408 shares of the company’s stock, valued at approximately $5,149,811.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,099 shares of company stock worth $865,740. 1.80% of the stock is owned by corporate insiders.

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.