Sterling Capital Management LLC Decreases Stock Holdings in Mercury Systems Inc $MRCY

Sterling Capital Management LLC reduced its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 36.4% during the 1st quarter, HoldingsChannel reports. The firm owned 17,260 shares of the technology company’s stock after selling 9,894 shares during the quarter. Sterling Capital Management LLC’s holdings in Mercury Systems were worth $1,258,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MRCY. Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% in 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 during the last quarter. Leonteq Securities AG acquired a new position in Mercury Systems during the fourth quarter worth $35,000. Hollencrest Capital Management purchased a new stake in Mercury Systems in the 4th quarter valued at $37,000. Federated Hermes Inc. purchased a new stake in Mercury Systems in the 2nd quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock valued at $48,000 after buying an additional 228 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 2,000 shares of Mercury Systems stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the sale, the executive vice president directly owned 32,238 shares in the company, valued at $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard L. Lance sold 9,250 shares of Mercury Systems stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $99.76, for a total transaction of $922,780.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,875 shares of company stock valued at $2,040,874 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Price Performance

MRCY stock opened at $110.22 on Tuesday. Mercury Systems Inc has a 52-week low of $49.54 and a 52-week high of $122.17. 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 stock has a market cap of $6.62 billion, a price-to-earnings ratio of -459.25 and a beta of 0.94. The business has a fifty day moving average of $99.22 and a two-hundred day moving average of $89.15.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. As a group, research analysts anticipate that Mercury Systems Inc will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

MRCY has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a report on Tuesday, April 21st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $105.00 target price on shares of Mercury Systems in a research note on Monday, June 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Two research 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

About Mercury Systems

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.