Picton Mahoney Asset Management Invests $406,000 in Mercury Systems, Inc. (NASDAQ:MRCY)

Picton Mahoney Asset Management acquired a new stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,111 shares of the technology company’s stock, valued at approximately $406,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Mercury Systems by 8.3% during the third quarter. Vanguard Group Inc. now owns 5,615,965 shares of the technology company’s stock worth $208,296,000 after purchasing an additional 429,532 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in shares of Mercury Systems in the third quarter worth $2,345,000. William Blair Investment Management LLC boosted its position in shares of Mercury Systems by 25.6% during the third quarter. William Blair Investment Management LLC now owns 6,749,562 shares of the technology company’s stock worth $250,341,000 after acquiring an additional 1,376,905 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Mercury Systems during the fourth quarter worth $1,660,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in Mercury Systems by 1,150.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 292,107 shares of the technology company’s stock valued at $10,834,000 after acquiring an additional 268,752 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Mercury Systems Trading Down 1.2 %

Shares of MRCY stock opened at $28.77 on Thursday. The company has a market cap of $1.71 billion, a PE ratio of -19.31 and a beta of 0.68. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $43.84. The stock’s 50 day simple moving average is $28.82 and its two-hundred day simple moving average is $31.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.36 and a quick ratio of 2.79.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The company had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $215.41 million. Mercury Systems had a negative net margin of 9.54% and a negative return on equity of 2.62%. Research analysts predict that Mercury Systems, Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on MRCY. Royal Bank of Canada dropped their price objective on shares of Mercury Systems from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Truist Financial dropped their price target on Mercury Systems from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group reduced their price objective on Mercury Systems from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.63.

Insider Buying and Selling at Mercury Systems

In other news, EVP Stephanie Georges sold 1,409 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the sale, the executive vice president now owns 38,319 shares in the company, valued at approximately $1,133,092.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Mercury Systems news, Director Barry R. Nearhos acquired 3,500 shares of the business’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $27.15 per share, with a total value of $95,025.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $95,025. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephanie Georges sold 1,409 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.57, for a total value of $41,664.13. Following the completion of the sale, the executive vice president now owns 38,319 shares in the company, valued at approximately $1,133,092.83. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 14,133 shares of company stock worth $398,311 and have sold 3,510 shares worth $103,685. Company insiders own 1.80% of the company’s stock.

Mercury Systems Profile

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.