Future Fund LLC Boosts Stock Position in Mercury Systems Inc $MRCY

Future Fund LLC raised its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 43.6% in the 4th quarter, Holdings Channel reports. The fund owned 29,280 shares of the technology company’s stock after acquiring an additional 8,893 shares during the quarter. Future Fund LLC’s holdings in Mercury Systems were worth $2,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new stake in Mercury Systems during the 4th quarter valued at approximately $4,954,000. Cresset Asset Management LLC purchased a new stake in Mercury Systems during the 3rd quarter valued at approximately $1,862,000. Public Sector Pension Investment Board raised its stake in Mercury Systems by 18.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock valued at $15,917,000 after acquiring an additional 32,443 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in Mercury Systems during the 3rd quarter valued at approximately $14,292,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Mercury Systems in the third quarter valued at about $2,508,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mercury Systems news, 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 value of $922,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jana Partners Management, Lp sold 182,510 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $94.05, for a total transaction of $17,165,065.50. Following the completion of the transaction, the director directly owned 4,384,165 shares of the company’s stock, valued at approximately $412,330,718.25. This trade represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 473,932 shares of company stock valued at $43,453,119 in the last 90 days. 1.40% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $111.70 on Friday. 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 company has a market cap of $6.71 billion, a P/E ratio of -465.42 and a beta of 0.83. Mercury Systems Inc has a 52 week low of $47.53 and a 52 week high of $113.47. The company has a 50-day moving average price of $84.71 and a 200 day moving average price of $82.78.

Mercury Systems (NASDAQ:MRCY) last issued its 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 negative net margin of 1.46% and a positive return on equity of 2.22%. The company had revenue of $235.76 million during the quarter, compared to analysts’ expectations of $208.56 million. During the same period last year, the company posted $0.06 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRCY. Jefferies Financial Group restated a “hold” rating and issued a $95.00 price objective on shares of Mercury Systems in a research report on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Canaccord Genuity Group raised their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Finally, Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat, Mercury Systems presently has an average rating of “Moderate Buy” and a consensus price target of $89.89.

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.