Multiple Headwinds Dragged Mercury Systems (MRCY) Stock in the Third Quarter

Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered a return of -3.09% net of fees, underperforming the -2.19% return of the Russell 2000 Index. Sector allocation contributed positively to the fund’s performance in the quarter, while stock selection detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Aristotle Capital highlighted stocks like Mercury Systems, Inc. (NASDAQ:MRCY) in the Q3 2022 investor letter. Headquartered in Andover, Massachusetts, Mercury Systems, Inc. (NASDAQ:MRCY) is a technology company that serves the aerospace and defense industries. On November 23, 2022, Mercury Systems, Inc. (NASDAQ:MRCY) stock closed at $49.01 per share. One-month return of Mercury Systems, Inc. (NASDAQ:MRCY) was 2.04% and its shares lost 1.70% of their value over the last 52 weeks. Mercury Systems, Inc. (NASDAQ:MRCY) has a market capitalization of $2.842 billion.

Aristotle Capital made the following comment about Mercury Systems, Inc. (NASDAQ:MRCY) in its Q3 2022 investor letter:

Mercury Systems, Inc. (NASDAQ:MRCY), a provider of secure sensor and safety-critical processing subsystems for the aerospace and defense markets, declined in the face of supply chain constraints and defense budget delays despite seeing high levels of new bookings activity, design wins and a robust backlog. We maintain a position, as we believe the company is well positioned to capitalize on continued outsourcing of subsystem development, strong mergers and acquisitions opportunities and continued technological innovation.”

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Mercury Systems, Inc. (NASDAQ:MRCY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Mercury Systems, Inc. (NASDAQ:MRCY) at the end of the third quarter, which was 19 in the previous quarter.

We discussed Mercury Systems, Inc. (NASDAQ:MRCY) in another article and shared Alger Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.

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