Wealth Enhancement Advisory Services LLC Takes $241,000 Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,730 shares of the technology company’s stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in MRCY. Neo Ivy Capital Management acquired a new stake in Mercury Systems in the 4th quarter valued at $33,000. Sterling Capital Management LLC grew its position in shares of Mercury Systems by 762.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after buying an additional 1,449 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Mercury Systems during the fourth quarter worth about $204,000. Centaurus Financial Inc. purchased a new position in Mercury Systems in the fourth quarter valued at approximately $212,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Mercury Systems in the fourth quarter valued at approximately $212,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Trading Down 6.5%

NASDAQ:MRCY opened at $49.53 on Tuesday. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $54.32. The firm has a market capitalization of $2.96 billion, a P/E ratio of -31.75 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The business has a 50 day simple moving average of $48.67 and a 200 day simple moving average of $44.82.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The business had revenue of $211.36 million during the quarter, compared to analyst estimates of $204.25 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Insider Activity at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 88,152 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the completion of the transaction, the director now owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven Ratner sold 3,892 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total value of $185,648.40. Following the transaction, the executive vice president now owns 56,187 shares of the company’s stock, valued at $2,680,119.90. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MRCY shares. Truist Financial increased their price objective on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. The Goldman Sachs Group lifted their price objective on Mercury Systems from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. raised their target price on Mercury Systems from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. Finally, Royal Bank of Canada lifted their price objective on Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.57.

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.