Conestoga Capital Advisors LLC Trims Holdings in Mercury Systems Inc $MRCY

Conestoga Capital Advisors LLC trimmed its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 11.8% in the 1st quarter, Holdings Channel reports. The firm owned 1,918,591 shares of the technology company’s stock after selling 256,216 shares during the quarter. Mercury Systems accounts for 2.8% of Conestoga Capital Advisors LLC’s holdings, making the stock its 14th biggest holding. Conestoga Capital Advisors LLC’s holdings in Mercury Systems were worth $139,884,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MRCY. Leonteq Securities AG purchased a new position in Mercury Systems in the 4th quarter worth about $35,000. Hollencrest Capital Management bought a new stake in Mercury Systems during the 4th quarter valued at about $37,000. Osaic Holdings Inc. boosted its position in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares during the period. Rockefeller Capital Management L.P. boosted its position in Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after buying an additional 228 shares during the period. Finally, Federated Hermes Inc. bought a new position in Mercury Systems in the 2nd quarter worth about $43,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Stock Up 0.6%

Mercury Systems stock opened at $123.05 on Thursday. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm has a market cap of $7.39 billion, a P/E ratio of -512.71 and a beta of 0.93. The business has a fifty day moving average of $100.77 and a two-hundred day moving average of $89.81. Mercury Systems Inc has a twelve month low of $49.54 and a twelve month high of $127.83.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The business 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 business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. On average, analysts forecast that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,875 shares of company stock worth $2,040,874 in the last three months. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRCY. The Goldman Sachs Group raised their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $105.00 price target on shares of Mercury Systems in a report on Monday, June 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group raised their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mercury Systems has a consensus rating of “Moderate Buy” and an average target price of $91.00.

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.