Aristotle Capital Boston LLC Reduces Stock Position in Mercury Systems Inc $MRCY

Aristotle Capital Boston LLC lowered its stake in Mercury Systems Inc (NASDAQ:MRCY) by 9.0% during the 4th quarter, HoldingsChannel reports. The firm owned 279,317 shares of the technology company’s stock after selling 27,721 shares during the period. Aristotle Capital Boston LLC’s holdings in Mercury Systems were worth $20,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MRCY. Osaic Holdings Inc. boosted its stake in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after acquiring an additional 208 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Mercury Systems during the 4th quarter worth $35,000. Hollencrest Capital Management purchased a new position in shares of Mercury Systems during the 4th quarter worth $37,000. Federated Hermes Inc. purchased a new position in shares of Mercury Systems during the 2nd quarter worth $43,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock worth $50,000 after acquiring an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Up 2.7%

Shares of MRCY stock opened at $115.50 on Thursday. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of -481.25 and a beta of 0.94. Mercury Systems Inc has a one year low of $49.03 and a one year high of $122.17. The company’s fifty day moving average price is $94.69 and its 200-day moving average price is $86.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Sell-side analysts expect that Mercury Systems Inc will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating and set a $105.00 price target on shares of Mercury Systems in a research note on Monday, June 1st. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Finally, Canaccord Genuity Group lifted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two equities 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insider Activity

In other 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 directly owned 32,238 shares in the company, valued at $2,980,725.48. This trade represents a 5.84% 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 Howard L. Lance sold 9,250 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The SEC filing for this sale provides additional information. Insiders have sold 21,875 shares of company stock valued at $2,040,874 over the last 90 days. Company insiders own 1.40% of the company’s stock.

About Mercury Systems

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.