Castleark Management LLC Increases Stake in Mercury Systems Inc $MRCY

Castleark Management LLC increased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,458 shares of the technology company’s stock after buying an additional 16,990 shares during the period. Castleark Management LLC owned about 0.20% of Mercury Systems worth $8,649,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of Mercury Systems during the fourth quarter valued at $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems during the fourth quarter valued at approximately $37,000. AlphaQuest LLC raised its stake in Mercury Systems by 41.9% in the third quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares in the last quarter. Osaic Holdings Inc. raised its stake in Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in Mercury Systems in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Insider Activity

In other news, EVP Steven Ratner sold 2,000 shares of the company’s 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 transaction, the executive vice president owned 32,238 shares in the company, valued at $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total transaction of $625,520.00. Following the transaction, the director owned 52,448 shares in the company, valued at approximately $4,686,753.28. This trade represents a 11.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,875 shares of company stock worth $2,040,874. Insiders own 1.40% of the company’s stock.

Mercury Systems Trading Up 0.8%

NASDAQ MRCY opened at $120.30 on Friday. 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 firm has a market cap of $7.22 billion, a PE ratio of -501.25 and a beta of 0.94. The company has a 50 day moving average price of $92.30 and a 200 day moving average price of $85.80. Mercury Systems Inc has a 52 week low of $48.75 and a 52 week high of $121.37.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.06 by $0.21. The firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. As a group, sell-side analysts forecast that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MRCY shares. Truist Financial raised shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. 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. 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. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target 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.