Pier Capital LLC Makes New Investment in Mercury Systems Inc $MRCY

Pier Capital LLC bought a new stake in Mercury Systems Inc (NASDAQ:MRCY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 59,567 shares of the technology company’s stock, valued at approximately $4,610,000. Pier Capital LLC owned about 0.10% of Mercury Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Emerald Advisers LLC raised its holdings in shares of Mercury Systems by 16.7% in the 3rd quarter. Emerald Advisers LLC now owns 533,092 shares of the technology company’s stock worth $41,261,000 after purchasing an additional 76,379 shares during the period. Mutual of America Capital Management LLC lifted its stake in Mercury Systems by 42.8% in the third quarter. Mutual of America Capital Management LLC now owns 225,374 shares of the technology company’s stock valued at $17,444,000 after purchasing an additional 67,518 shares during the last quarter. Cresset Asset Management LLC bought a new position in Mercury Systems during the third quarter valued at $1,862,000. Hennion & Walsh Asset Management Inc. grew its holdings in Mercury Systems by 75.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,796 shares of the technology company’s stock valued at $2,151,000 after purchasing an additional 11,989 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Mercury Systems by 18.7% in the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock worth $15,917,000 after buying an additional 32,443 shares during the last quarter. 95.99% of the stock is owned by institutional investors.

Mercury Systems Trading Down 5.3%

Shares of MRCY stock opened at $81.44 on Friday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of -153.66, a PEG ratio of 8.33 and a beta of 0.77. The company’s fifty day simple moving average is $90.02 and its two-hundred day simple moving average is $79.27. Mercury Systems Inc has a 1 year low of $39.89 and a 1 year high of $103.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04.

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

Insider Buying and Selling

In other Mercury Systems news, CAO Douglas Munro sold 582 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 $48,631.92. Following the completion of the transaction, the chief accounting officer owned 14,328 shares of the company’s stock, valued at $1,197,247.68. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jana Partners Management, Lp sold 400,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the sale, the director owned 4,566,675 shares in the company, valued at approximately $369,900,675. This represents a 8.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 859,758 shares of company stock worth $74,481,931 in the last 90 days. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Truist Financial boosted their target price on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group increased their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $86.89.

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.