Vanguard Group Inc. boosted its position in Mercury Systems Inc (NASDAQ:MRCY) by 21.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,938,032 shares of the technology company’s stock after buying an additional 700,484 shares during the period. Vanguard Group Inc. owned approximately 9.00% of Mercury Systems worth $153,780,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in MRCY. Flinton Capital Management LLC increased its stake in Mercury Systems by 18.6% in the first quarter. Flinton Capital Management LLC now owns 2,822 shares of the technology company’s stock worth $110,000 after buying an additional 442 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Mercury Systems during the first quarter worth approximately $116,000. Ameritas Investment Partners Inc. purchased a new stake in Mercury Systems during the first quarter worth approximately $153,000. First Mercantile Trust Co. purchased a new stake in Mercury Systems during the first quarter worth approximately $159,000. Finally, LS Investment Advisors LLC increased its stake in Mercury Systems by 219.1% in the first quarter. LS Investment Advisors LLC now owns 4,799 shares of the technology company’s stock worth $187,000 after buying an additional 3,295 shares during the last quarter. Institutional investors and hedge funds own 97.46% of the company’s stock.
Shares of Mercury Systems Inc (NASDAQ MRCY) traded down 2.33% during mid-day trading on Wednesday, reaching $46.52. The company had a trading volume of 370,699 shares. Mercury Systems Inc has a 52-week low of $21.52 and a 52-week high of $48.17. The stock has a market capitalization of $2.15 billion, a P/E ratio of 80.21 and a beta of 0.39. The company’s 50-day moving average is $44.09 and its 200 day moving average is $39.82.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The business had revenue of $115.60 million for the quarter, compared to the consensus estimate of $115.11 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. Mercury Systems’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Analysts anticipate that Mercury Systems Inc will post $1.24 EPS for the current fiscal year.
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MRCY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, July 5th. Jefferies Group LLC restated a “hold” rating and set a $43.00 price objective on shares of Mercury Systems in a report on Wednesday, May 31st. Finally, Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, April 27th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $43.00.
In related news, VP Charles A. Speicher sold 7,000 shares of Mercury Systems stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the transaction, the vice president now owns 36,983 shares in the company, valued at approximately $1,630,580.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Aslett sold 9,600 shares of Mercury Systems stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.54, for a total transaction of $379,584.00. Following the completion of the transaction, the insider now owns 547,849 shares in the company, valued at approximately $21,661,949.46. The disclosure for this sale can be found here. Insiders have sold a total of 26,000 shares of company stock worth $1,045,790 in the last 90 days. 4.30% of the stock is owned by insiders.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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