Kennedy Capital Management LLC Has $50.85 Million Holdings in Mercury Systems Inc $MRCY

Kennedy Capital Management LLC lifted its position in Mercury Systems Inc (NASDAQ:MRCY) by 23.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 657,013 shares of the technology company’s stock after buying an additional 126,080 shares during the period. Mercury Systems comprises 1.1% of Kennedy Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Kennedy Capital Management LLC owned about 1.09% of Mercury Systems worth $50,853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MRCY. Invesco Ltd. boosted its stake in Mercury Systems by 161.7% during the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Mercury Systems by 321.7% in the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after purchasing an additional 757,216 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Mercury Systems by 96.3% in the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after purchasing an additional 751,813 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Mercury Systems by 287.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after purchasing an additional 514,756 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after buying an additional 290,989 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Mercury Systems Stock Performance

NASDAQ MRCY traded down $0.55 on Friday, hitting $80.89. 36,140 shares of the company traded hands, compared to its average volume of 660,806. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -152.39, a P/E/G ratio of 8.33 and a beta of 0.77. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $90.02 and its 200-day moving average price is $79.27. Mercury Systems Inc has a 52-week low of $39.89 and a 52-week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last issued 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. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The business had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MRCY shares. The Goldman Sachs Group lifted their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 price target on shares of Mercury Systems in a report on Sunday, February 8th. Truist Financial lifted their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research report on Wednesday, February 4th. One research 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 stock. According to data from MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and a consensus price target of $86.89.

Insider Activity

In other news, EVP Stuart Kupinsky sold 2,287 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $191,101.72. Following the sale, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This trade represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the transaction, the director owned 4,114,618 shares in the company, valued at approximately $368,998,942.24. This trade represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 859,758 shares of company stock worth $74,481,931 in the last quarter. 1.40% of the stock is currently owned by insiders.

Mercury Systems Company 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.