Russell Investments Group Ltd. decreased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 9.7% in the second quarter, HoldingsChannel reports. The firm owned 101,452 shares of the technology company’s stock after selling 10,836 shares during the quarter. Russell Investments Group Ltd.’s holdings in Mercury Systems were worth $7,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in MRCY. Geode Capital Management LLC lifted its holdings in shares of Mercury Systems by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 545,176 shares of the technology company’s stock worth $25,781,000 after purchasing an additional 41,114 shares during the period. Rhumbline Advisers lifted its holdings in Mercury Systems by 1.0% in the first quarter. Rhumbline Advisers now owns 139,475 shares of the technology company’s stock valued at $8,938,000 after acquiring an additional 1,348 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Mercury Systems in the first quarter valued at approximately $296,000. Texas Permanent School Fund lifted its holdings in Mercury Systems by 3.9% in the first quarter. Texas Permanent School Fund now owns 32,903 shares of the technology company’s stock valued at $2,108,000 after acquiring an additional 1,230 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Mercury Systems by 15.8% in the first quarter. California Public Employees Retirement System now owns 57,906 shares of the technology company’s stock valued at $3,711,000 after acquiring an additional 7,903 shares during the period. 96.82% of the stock is owned by hedge funds and other institutional investors.
MRCY has been the subject of a number of analyst reports. Zacks Investment Research raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Goldman Sachs Group initiated coverage on Mercury Systems in a report on Friday, August 16th. They issued a “neutral” rating and a $75.00 price target for the company. BidaskClub downgraded Mercury Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America raised Mercury Systems from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $50.00 to $85.00 in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.50.
In other news, Director Michael A. Daniels sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $77.68, for a total value of $116,520.00. Following the completion of the sale, the director now directly owns 73,937 shares in the company, valued at $5,743,426.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Didier M. C. Thibaud sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $84.12, for a total value of $2,523,600.00. Following the completion of the sale, the chief operating officer now owns 262,365 shares of the company’s stock, valued at $22,070,143.80. The disclosure for this sale can be found here. Insiders sold 62,538 shares of company stock valued at $5,148,579 over the last 90 days. Company insiders own 2.80% of the company’s stock.
NASDAQ:MRCY traded up $1.20 during trading hours on Thursday, reaching $80.62. The company had a trading volume of 16,466 shares, compared to its average volume of 439,226. Mercury Systems Inc has a 1-year low of $41.16 and a 1-year high of $89.44. The firm has a market cap of $4.41 billion, a PE ratio of 53.02, a price-to-earnings-growth ratio of 4.19 and a beta of 1.11. The business’s 50 day moving average price is $81.68 and its 200-day moving average price is $71.33.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.11. The company had revenue of $176.96 million during the quarter, compared to the consensus estimate of $171.98 million. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. Mercury Systems’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities analysts anticipate that Mercury Systems Inc will post 1.72 earnings per share for the current year.
About Mercury Systems
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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