Stephens Investment Management Group LLC reduced its position in Mercury Systems Inc (NASDAQ:MRCY) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 762,966 shares of the technology company’s stock after selling 62,202 shares during the period. Stephens Investment Management Group LLC owned approximately 1.38% of Mercury Systems worth $53,675,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new position in shares of Mercury Systems during the first quarter worth about $44,000. Advisors Preferred LLC bought a new position in shares of Mercury Systems during the first quarter worth about $106,000. NumerixS Investment Technologies Inc bought a new position in shares of Mercury Systems during the first quarter worth about $128,000. NEXT Financial Group Inc bought a new position in shares of Mercury Systems during the second quarter worth about $170,000. Finally, Meitav Dash Investments Ltd. bought a new position in shares of Mercury Systems during the first quarter worth about $203,000. 84.53% of the stock is owned by institutional investors.
In other Mercury Systems news, insider Mark Aslett sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $65.90, for a total value of $659,000.00. Following the sale, the insider now owns 337,440 shares in the company, valued at $22,237,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 30,000 shares of company stock worth $2,024,200 in the last 90 days. 2.80% of the stock is owned by company insiders.
MRCY traded up $0.27 on Thursday, hitting $83.39. 5,797 shares of the company’s stock were exchanged, compared to its average volume of 382,349. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 4.06 and a beta of 1.09. Mercury Systems Inc has a twelve month low of $41.16 and a twelve month high of $84.00. The company’s fifty day simple moving average is $73.61. The company has a current ratio of 5.94, a quick ratio of 4.54 and a debt-to-equity ratio of 0.34.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.36 by $0.11. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The company had revenue of $176.96 million for the quarter, compared to analyst estimates of $171.98 million. During the same quarter last year, the business earned $0.47 earnings per share. Mercury Systems’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts expect that Mercury Systems Inc will post 1.72 EPS for the current fiscal year.
MRCY has been the topic of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 price target (up previously from $64.00) on shares of Mercury Systems in a research report on Friday, April 26th. BidaskClub lowered shares of Mercury Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. Zacks Investment Research upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Bank of America upgraded shares of Mercury Systems from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $85.00 in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mercury Systems presently has a consensus rating of “Buy” and an average target price of $73.20.
Mercury Systems Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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