Penn Capital Management Company LLC Purchases Shares of 184,154 Mercury Systems Inc $MRCY

Penn Capital Management Company LLC acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 184,154 shares of the technology company’s stock, valued at approximately $14,292,000.

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

Insiders Place Their Bets

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 value of $48,631.92. Following the transaction, the chief accounting officer owned 14,328 shares in the company, valued at $1,197,247.68. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Howard L. Lance sold 4,832 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total transaction of $429,951.36. Following the completion of the transaction, the director directly owned 27,272 shares of the company’s stock, valued at $2,426,662.56. This trade represents a 15.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 859,758 shares of company stock valued at $74,481,931. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY opened at $81.35 on Wednesday. The company’s 50 day simple moving average is $89.99 and its 200 day simple moving average is $79.69. 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 Inc has a 1 year low of $39.89 and a 1 year high of $103.84. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of -153.49, a price-to-earnings-growth ratio of 7.82 and a beta of 0.77.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRCY. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Jefferies Financial Group restated a “hold” rating and set a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, Truist Financial increased their price target on Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and a consensus target price 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.