Louisiana State Employees Retirement System Takes Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Louisiana State Employees Retirement System purchased a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,100 shares of the technology company’s stock, valued at approximately $954,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MRCY. CWM LLC grew its holdings in Mercury Systems by 65.5% in the third quarter. CWM LLC now owns 5,685 shares of the technology company’s stock worth $211,000 after purchasing an additional 2,249 shares during the period. State of Alaska Department of Revenue raised its position in Mercury Systems by 341.8% in the third quarter. State of Alaska Department of Revenue now owns 31,883 shares of the technology company’s stock worth $1,182,000 after acquiring an additional 24,667 shares during the period. Hunter Perkins Capital Management LLC raised its position in shares of Mercury Systems by 8.4% during the 3rd quarter. Hunter Perkins Capital Management LLC now owns 10,000 shares of the technology company’s stock valued at $371,000 after purchasing an additional 775 shares during the period. Camelot Portfolios LLC raised its position in shares of Mercury Systems by 411.6% during the 3rd quarter. Camelot Portfolios LLC now owns 35,472 shares of the technology company’s stock valued at $1,316,000 after purchasing an additional 28,538 shares during the period. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Mercury Systems during the 3rd quarter valued at $855,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Trading Up 1.1 %

Shares of Mercury Systems stock opened at $28.79 on Friday. The company has a current ratio of 4.36, a quick ratio of 2.79 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a 12-month low of $25.31 and a 12-month high of $48.00. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -19.32 and a beta of 0.70. The firm’s 50 day simple moving average is $28.80 and its two-hundred day simple moving average is $32.42.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial cut shares of 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 note on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Jefferies Financial Group lowered shares of Mercury Systems from a “hold” rating to an “underperform” rating and reduced their price target for the company from $35.00 to $30.00 in a report on Wednesday, January 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Mercury Systems from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Hold” and a consensus price target of $29.88.

Insider Transactions at Mercury Systems

In other Mercury Systems news, CEO William L. Ballhaus acquired 3,653 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $28.22 per share, for a total transaction of $103,087.66. Following the completion of the purchase, the chief executive officer now directly owns 3,653 shares of the company’s stock, valued at $103,087.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO William L. Ballhaus purchased 3,653 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $28.22 per share, with a total value of $103,087.66. Following the completion of the acquisition, the chief executive officer now owns 3,653 shares of the company’s stock, valued at approximately $103,087.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David E. Farnsworth acquired 3,567 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $28.09 per share, for a total transaction of $100,197.03. Following the completion of the acquisition, the chief financial officer now owns 126,618 shares of the company’s stock, valued at $3,556,699.62. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 14,133 shares of company stock worth $398,311 and have sold 3,510 shares worth $103,685. Company insiders own 1.80% of the company’s stock.

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.