Cerity Partners LLC Takes Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Cerity Partners LLC purchased a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 45,395 shares of the technology company’s stock, valued at approximately $1,660,000. Cerity Partners LLC owned 0.08% of Mercury Systems as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in MRCY. JANA Partners Management LP purchased a new stake in shares of Mercury Systems during the 3rd quarter valued at approximately $174,518,000. Starboard Value LP purchased a new stake in shares of Mercury Systems during the 1st quarter valued at approximately $230,973,000. William Blair Investment Management LLC raised its position in shares of Mercury Systems by 25.6% during the 3rd quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock valued at $250,341,000 after buying an additional 1,376,905 shares during the period. Invesco Ltd. raised its position in shares of Mercury Systems by 218.0% during the 1st quarter. Invesco Ltd. now owns 720,322 shares of the technology company’s stock valued at $46,425,000 after buying an additional 493,801 shares during the period. Finally, Cooper Creek Partners Management LLC raised its position in Mercury Systems by 118.8% in the third quarter. Cooper Creek Partners Management LLC now owns 870,936 shares of the technology company’s stock valued at $32,303,000 after purchasing an additional 472,803 shares during the period. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

NASDAQ:MRCY opened at $27.98 on Friday. The company has a quick ratio of 2.79, a current ratio of 4.36 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $28.98 and a two-hundred day simple moving average of $32.65. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -18.78 and a beta of 0.70. Mercury Systems, Inc. has a 52 week low of $25.31 and a 52 week high of $48.65.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, February 6th. The technology company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). The firm had revenue of $197.46 million for the quarter, compared to analyst estimates of $215.41 million. Mercury Systems had a negative return on equity of 2.62% and a negative net margin of 9.54%. As a group, equities analysts anticipate that Mercury Systems, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Barry R. Nearhos bought 3,500 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $27.15 per share, for a total transaction of $95,025.00. Following the completion of the purchase, the director now owns 3,500 shares in the company, valued at approximately $95,025. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,696 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $50,150.72. Following the completion of the transaction, the chief operating officer now owns 105,427 shares in the company, valued at $3,117,476.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry R. Nearhos acquired 3,500 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average price of $27.15 per share, with a total value of $95,025.00. Following the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at $95,025. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 14,133 shares of company stock worth $398,311 and sold 3,510 shares worth $103,685. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank of Canada cut their target price on Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 7th. Jefferies Financial Group lowered Mercury Systems from a “hold” rating to an “underperform” rating and cut their target price for the company from $35.00 to $30.00 in a research report on Wednesday, January 3rd. The Goldman Sachs Group cut their target price on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 8th. Finally, Truist Financial lowered Mercury Systems from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $28.00 in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Mercury Systems has an average rating of “Hold” and an average price target of $29.88.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.