Deepwater Asset Management LLC Makes New Investment in Mercury Systems Inc $MRCY

Deepwater Asset Management LLC purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 67,461 shares of the technology company’s stock, valued at approximately $4,925,000. Mercury Systems makes up about 1.4% of Deepwater Asset Management LLC’s holdings, making the stock its 27th biggest position. Deepwater Asset Management LLC owned approximately 0.11% of Mercury Systems at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MRCY. AQR Capital Management LLC acquired a new position in shares of Mercury Systems during the 1st quarter worth about $755,000. Goldman Sachs Group Inc. increased its stake in shares of Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Mercury Systems by 13.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after purchasing an additional 18,916 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Mercury Systems by 161.3% during the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after purchasing an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Mercury Systems by 30.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after purchasing an additional 29,057 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mercury Systems

In related news, EVP David E. Farnsworth sold 3,625 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the transaction, the executive vice president owned 157,701 shares in the company, valued at approximately $13,384,083.87. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Howard L. Lance sold 9,250 shares of the company’s 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 SEC filing for this sale provides additional information. Insiders have sold a total of 21,875 shares of company stock worth $2,040,874 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

MRCY has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Canaccord Genuity Group boosted their price objective on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.00.

Mercury Systems Price Performance

Shares of MRCY opened at $111.27 on Monday. Mercury Systems Inc has a 52 week low of $48.75 and a 52 week high of $118.57. The firm has a market cap of $6.68 billion, a P/E ratio of -463.63 and a beta of 0.94. The firm’s 50-day simple moving average is $88.28 and its 200 day simple moving average is $84.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.15 and a current ratio of 3.19.

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 analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The business had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. During the same quarter in the prior year, the business earned $0.06 EPS. Mercury Systems’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts forecast that Mercury Systems Inc will post 0.18 earnings per share for the current year.

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.