Agman Capital LLC Acquires New Holdings in Mercury Systems Inc $MRCY

Agman Capital LLC purchased a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 122,836 shares of the technology company’s stock, valued at approximately $8,968,000. Mercury Systems accounts for about 7.6% of Agman Capital LLC’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds also recently modified their holdings of MRCY. Nordea Investment Management AB purchased a new position in shares of Mercury Systems during the 4th quarter worth about $4,954,000. Cresset Asset Management LLC purchased a new stake in shares of Mercury Systems during the third quarter valued at approximately $1,862,000. Public Sector Pension Investment Board raised its stake in shares of Mercury Systems by 18.7% during the third quarter. Public Sector Pension Investment Board now owns 205,644 shares of the technology company’s stock valued at $15,917,000 after purchasing an additional 32,443 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of Mercury Systems during the third quarter valued at approximately $14,292,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Mercury Systems during the third quarter worth approximately $2,508,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $120.30 on Friday. The company’s 50-day moving average price is $92.30 and its two-hundred day moving average price is $85.80. The stock has a market cap of $7.22 billion, a PE ratio of -501.25 and a beta of 0.94. Mercury Systems Inc has a 52 week low of $48.75 and a 52 week high of $121.37. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling

In related news, EVP David E. Farnsworth sold 3,625 shares of Mercury Systems stock in a transaction dated Thursday, April 16th. The stock was 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 of the company’s stock, valued at approximately $13,384,083.87. This trade represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $184,920.00. Following the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,875 shares of company stock worth $2,040,874. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MRCY shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Mercury Systems in a report on Monday, June 1st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Canaccord Genuity Group boosted their price target on shares of Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Mercury Systems Profile

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.