Gabelli Funds LLC Raises Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Gabelli Funds LLC increased its holdings in Mercury Systems, Inc. (NASDAQ:MRCY) by 8.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,859 shares of the technology company’s stock after purchasing an additional 1,000 shares during the period. Gabelli Funds LLC’s holdings in Mercury Systems were worth $347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC lifted its stake in Mercury Systems by 0.6% in the second quarter. William Blair Investment Management LLC now owns 6,416,449 shares of the technology company’s stock worth $173,180,000 after purchasing an additional 36,923 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Mercury Systems by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,669,352 shares of the technology company’s stock worth $207,328,000 after buying an additional 53,387 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Mercury Systems by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,027,158 shares of the technology company’s stock valued at $54,713,000 after acquiring an additional 20,604 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Mercury Systems by 14.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company’s stock valued at $45,848,000 after acquiring an additional 199,600 shares during the period. Finally, Conestoga Capital Advisors LLC grew its position in Mercury Systems by 3.1% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,308,965 shares of the technology company’s stock worth $35,329,000 after acquiring an additional 39,235 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MRCY. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, August 19th. Royal Bank of Canada upped their price target on shares of Mercury Systems from $30.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Mercury Systems from $26.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Robert W. Baird upped their price objective on shares of Mercury Systems from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Truist Financial raised their target price on Mercury Systems from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.50.

Insider Activity

In related news, EVP Stephanie Georges sold 1,340 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.49, for a total value of $52,916.60. Following the completion of the transaction, the executive vice president now directly owns 32,259 shares in the company, valued at approximately $1,273,907.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Debora A. Plunkett sold 1,843 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $38.07, for a total value of $70,163.01. Following the sale, the director now directly owns 11,339 shares of the company’s stock, valued at approximately $431,675.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephanie Georges sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.49, for a total transaction of $52,916.60. Following the completion of the transaction, the executive vice president now owns 32,259 shares in the company, valued at approximately $1,273,907.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,099 shares of company stock worth $865,740. Corporate insiders own 1.80% of the company’s stock.

Mercury Systems Price Performance

MRCY stock opened at $36.97 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.07 and a quick ratio of 2.64. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $42.72. The firm has a 50-day moving average of $36.22 and a 200 day moving average of $31.72. The company has a market cap of $2.19 billion, a P/E ratio of -15.73 and a beta of 0.69.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, August 13th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.32. Mercury Systems had a negative return on equity of 4.92% and a negative net margin of 16.48%. The firm had revenue of $248.56 million during the quarter, compared to analyst estimates of $223.80 million. On average, sell-side analysts forecast that Mercury Systems, Inc. will post -0.52 EPS for the current year.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.