Candelo Capital Management LP Invests $1.18 Million in Mercury Systems Inc $MRCY

Candelo Capital Management LP bought a new position in Mercury Systems Inc (NASDAQ:MRCY) in the 3rd quarter, Holdings Channel.com reports. The firm bought 15,300 shares of the technology company’s stock, valued at approximately $1,184,000. Mercury Systems comprises approximately 1.0% of Candelo Capital Management LP’s holdings, making the stock its 25th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in Mercury Systems during the third quarter valued at about $32,000. Osaic Holdings Inc. boosted its holdings in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Mercury Systems during the 2nd quarter valued at about $43,000. AlphaQuest LLC increased its position in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after buying an additional 234 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRCY has been the subject of a number of recent research reports. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Finally, Truist Financial upped their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.89.

Insider Buying and Selling

In related news, Director Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total value of $9,048,622.32. Following the transaction, the director directly owned 4,114,618 shares of the company’s stock, valued at $368,998,942.24. The trade was a 2.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard L. Lance sold 4,832 shares of Mercury Systems stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $88.98, for a total transaction of $429,951.36. Following the completion of the transaction, the director directly owned 27,272 shares in the company, valued at approximately $2,426,662.56. The trade was a 15.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 859,758 shares of company stock worth $74,481,931. Company insiders own 1.40% of the company’s stock.

Mercury Systems Stock Down 4.0%

MRCY opened at $78.16 on Friday. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $90.06 and its 200-day moving average price is $79.43. The company has a market cap of $4.69 billion, a P/E ratio of -147.47, a P/E/G ratio of 7.57 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. During the same period in the prior year, the business posted $0.07 EPS. Mercury Systems’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

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.