Mercury Systems Inc $MRCY Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its position in Mercury Systems Inc (NASDAQ:MRCY) by 19.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,190,557 shares of the technology company’s stock after selling 296,634 shares during the quarter. Mercury Systems comprises approximately 3.0% of Conestoga Capital Advisors LLC’s holdings, making the stock its 12th largest position. Conestoga Capital Advisors LLC’s holdings in Mercury Systems were worth $98,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Integrity Alliance LLC. acquired a new position in Mercury Systems in the 3rd quarter valued at $465,000. Oregon Public Employees Retirement Fund raised its holdings in Mercury Systems by 5.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 12,558 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mercury Systems during the 3rd quarter worth $148,000. Verdence Capital Advisors LLC lifted its position in Mercury Systems by 4.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,169 shares of the technology company’s stock worth $263,000 after acquiring an additional 143 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Mercury Systems by 66.8% during the 3rd quarter. Signaturefd LLC now owns 1,306 shares of the technology company’s stock worth $108,000 after acquiring an additional 523 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRCY shares. Piper Sandler lowered their price target on Mercury Systems from $131.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Mercury Systems from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Truist Financial boosted their price objective on Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada reduced their price objective on Mercury Systems from $120.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Finally, Oppenheimer began coverage on Mercury Systems in a research report on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mercury Systems has an average rating of “Hold” and an average target price of $107.90.

Insider Buying and Selling

In other Mercury Systems news, EVP Stuart Kupinsky sold 1,000 shares of the stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $76.00, for a total value of $76,000.00. Following the transaction, the executive vice president owned 59,971 shares of the company’s stock, valued at approximately $4,557,796. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Steven Ratner sold 4,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $84.51, for a total value of $338,040.00. Following the completion of the transaction, the executive vice president directly owned 19,275 shares in the company, valued at $1,628,930.25. The trade was a 17.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 452,186 shares of company stock valued at $41,933,170 over the last three months. Company insiders own 0.99% of the company’s stock.

Mercury Systems Trading Down 10.7%

Shares of NASDAQ MRCY opened at $71.76 on Thursday. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week high of $128.45. The firm has a market capitalization of $4.37 billion, a P/E ratio of -143.52 and a beta of 0.98. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The company’s 50 day simple moving average is $81.18 and its 200 day simple moving average is $91.48.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%. Mercury Systems’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. On average, analysts predict that Mercury Systems Inc will post 0.91 EPS for the current year.

Mercury Systems Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.