JPMorgan Chase & Co. cut its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 32.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,081 shares of the technology company’s stock after selling 19,329 shares during the period. JPMorgan Chase & Co.’s holdings in Mercury Systems were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Mercury Systems by 8.2% during the third quarter. Legal & General Group Plc now owns 93,854 shares of the technology company’s stock worth $4,866,000 after purchasing an additional 7,122 shares during the period. American International Group Inc. lifted its holdings in shares of Mercury Systems by 5.7% during the third quarter. American International Group Inc. now owns 37,265 shares of the technology company’s stock worth $1,933,000 after purchasing an additional 2,023 shares during the period. Granite Investment Partners LLC lifted its holdings in shares of Mercury Systems by 4.4% during the third quarter. Granite Investment Partners LLC now owns 415,466 shares of the technology company’s stock worth $21,554,000 after purchasing an additional 17,622 shares during the period. Columbus Circle Investors raised its position in Mercury Systems by 21.9% in the third quarter. Columbus Circle Investors now owns 241,765 shares of the technology company’s stock worth $12,543,000 after acquiring an additional 43,423 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Mercury Systems by 3.1% in the third quarter. Ameriprise Financial Inc. now owns 365,083 shares of the technology company’s stock worth $18,941,000 after acquiring an additional 10,900 shares in the last quarter. 96.28% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Mark Aslett sold 4,800 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $49.92, for a total value of $239,616.00. Following the completion of the transaction, the chief executive officer now owns 509,782 shares in the company, valued at $25,448,317.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Vincent Vitto sold 8,500 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $52.04, for a total value of $442,340.00. Following the completion of the transaction, the director now owns 79,539 shares of the company’s stock, valued at approximately $4,139,209.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,300 shares of company stock valued at $3,171,165. Company insiders own 3.50% of the company’s stock.
Several research firms have issued reports on MRCY. BidaskClub upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 28th. SunTrust Banks reiterated a “buy” rating and issued a $51.00 price objective on shares of Mercury Systems in a research report on Monday, October 2nd. Robert W. Baird reiterated a “buy” rating and issued a $48.00 price objective on shares of Mercury Systems in a research report on Tuesday, October 24th. Finally, Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.83.
Mercury Systems Inc (NASDAQ MRCY) opened at $51.10 on Monday. The stock has a market capitalization of $2,465.11, a price-to-earnings ratio of 59.42, a price-to-earnings-growth ratio of 4.22 and a beta of 0.23. Mercury Systems Inc has a 52-week low of $29.31 and a 52-week high of $55.00.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.11. The firm had revenue of $106.10 million during the quarter, compared to analysts’ expectations of $105.18 million. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. Mercury Systems’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. analysts expect that Mercury Systems Inc will post 1.09 earnings per share for the current fiscal year.
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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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