Mercury Systems Inc $MRCY Shares Purchased by Castleark Management LLC

Castleark Management LLC grew its position in Mercury Systems Inc (NASDAQ:MRCY) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,458 shares of the technology company’s stock after purchasing an additional 16,990 shares during the period. Castleark Management LLC’s holdings in Mercury Systems were worth $8,649,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MRCY. Osaic Holdings Inc. lifted its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG acquired a new stake in shares of Mercury Systems during the fourth quarter worth about $35,000. Hollencrest Capital Management acquired a new stake in shares of Mercury Systems during the fourth quarter worth about $37,000. Federated Hermes Inc. acquired a new stake in shares of Mercury Systems during the second quarter worth about $43,000. Finally, AlphaQuest LLC lifted its holdings in shares of Mercury Systems by 41.9% during the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after purchasing an additional 168 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Canaccord Genuity Group lifted their target price on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. The Goldman Sachs Group lifted their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Monday, June 1st. Finally, Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Mercury Systems presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Price Performance

Shares of MRCY opened at $120.30 on Friday. The business’s 50-day moving average is $92.30 and its two-hundred day moving average is $85.80. The company has a market capitalization of $7.22 billion, a P/E ratio of -501.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19. Mercury Systems Inc has a fifty-two week low of $48.75 and a fifty-two week high of $121.37.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. Research analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Insider Activity

In related news, EVP Steven Ratner sold 2,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the sale, the executive vice president owned 32,238 shares in the company, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. This represents a 11.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,875 shares of company stock worth $2,040,874 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

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.