Manatuck Hill Partners LLC Invests $3.29 Million in Mercury Systems Inc $MRCY

Manatuck Hill Partners LLC acquired a new position in Mercury Systems Inc (NASDAQ:MRCY) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 45,000 shares of the technology company’s stock, valued at approximately $3,285,000.

Several other hedge funds also recently made changes to their positions in MRCY. Osaic Holdings Inc. boosted its position 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 valued at $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $37,000. Federated Hermes Inc. bought a new stake in shares of Mercury Systems during the second quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Mercury Systems by 33.7% during the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after purchasing an additional 234 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Howard L. Lance sold 9,250 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was 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 owned 32,238 shares of the company’s stock, valued at $2,980,725.48. This represents a 5.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,875 shares of company stock worth $2,040,874 over the last three months. Company insiders own 1.40% of the company’s stock.

Mercury Systems Trading Up 2.7%

Mercury Systems stock opened at $115.50 on Thursday. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $94.69 and its two-hundred day simple moving average is $86.89. Mercury Systems Inc has a 12 month low of $49.03 and a 12 month high of $122.17. 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 (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRCY has been the topic of several research reports. Jefferies Financial Group restated a “hold” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Monday, June 1st. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. The Goldman Sachs Group boosted their price target on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Finally, Canaccord Genuity Group boosted their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, three have given 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

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.