Rice Hall James & Associates LLC Sells 4,523 Shares of Mercury Systems Inc $MRCY

Rice Hall James & Associates LLC cut its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 8.5% in the fourth quarter, Holdings Channel reports. The fund owned 48,817 shares of the technology company’s stock after selling 4,523 shares during the period. Rice Hall James & Associates LLC’s holdings in Mercury Systems were worth $3,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MRCY. Osaic Holdings Inc. lifted its holdings 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 acquiring an additional 208 shares during the period. Leonteq Securities AG bought a new position in shares of Mercury Systems during the fourth quarter valued at $35,000. Hollencrest Capital Management bought a new position in shares of Mercury Systems during the fourth quarter valued at $37,000. Federated Hermes Inc. bought a new position in shares of Mercury Systems during the second quarter valued at $43,000. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 234 shares during the period. 95.99% of the stock is owned by institutional investors.

Mercury Systems Stock Performance

Mercury Systems stock opened at $112.44 on Wednesday. The stock has a 50-day simple moving average of $93.90 and a 200 day simple moving average of $86.57. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 12-month low of $48.75 and a 12-month high of $122.17. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of -468.50 and a beta of 0.94.

Mercury Systems (NASDAQ:MRCY) last released 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. 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 during the quarter, compared to analysts’ expectations of $208.56 million. During the same period in the previous year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts anticipate that Mercury Systems Inc will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction dated 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 directly owned 32,238 shares of the company’s stock, valued at $2,980,725.48. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the sale, the executive vice president owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 21,875 shares of company stock valued at $2,040,874. 1.40% of the stock is owned by corporate insiders.

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.