Oppenheimer Asset Management Inc. lessened its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 32.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,543 shares of the technology company’s stock after selling 5,069 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mercury Systems were worth $584,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in MRCY. Conestoga Capital Advisors LLC acquired a new stake in Mercury Systems during the 2nd quarter valued at approximately $43,032,000. Federated Investors Inc. PA increased its position in Mercury Systems by 344.2% during the 2nd quarter. Federated Investors Inc. PA now owns 970,500 shares of the technology company’s stock valued at $36,937,000 after purchasing an additional 752,000 shares during the period. BlackRock Inc. increased its position in Mercury Systems by 8.9% during the 2nd quarter. BlackRock Inc. now owns 8,274,536 shares of the technology company’s stock valued at $314,928,000 after purchasing an additional 672,821 shares during the period. Fred Alger Management Inc. increased its position in Mercury Systems by 245.7% during the 2nd quarter. Fred Alger Management Inc. now owns 827,399 shares of the technology company’s stock valued at $31,491,000 after purchasing an additional 588,093 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Mercury Systems by 59.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,130,014 shares of the technology company’s stock valued at $43,008,000 after purchasing an additional 422,612 shares during the period. 96.81% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. BidaskClub raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Canaccord Genuity assumed coverage on shares of Mercury Systems in a research report on Thursday, October 4th. They set a “buy” rating and a $64.00 target price for the company. ValuEngine raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Tuesday. Finally, Drexel Hamilton set a $58.00 target price on shares of Mercury Systems and gave the company a “buy” rating in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Mercury Systems presently has an average rating of “Buy” and an average price target of $53.86.
In other news, COO Didier M. C. Thibaud sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $54.23, for a total transaction of $189,805.00. Following the completion of the sale, the chief operating officer now owns 318,525 shares of the company’s stock, valued at approximately $17,273,610.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Aslett sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $54.91, for a total transaction of $1,647,300.00. Following the sale, the insider now directly owns 427,440 shares of the company’s stock, valued at approximately $23,470,730.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,200 shares of company stock valued at $2,920,742. Insiders own 2.80% of the company’s stock.
Shares of MRCY stock opened at $48.55 on Wednesday. The company has a market cap of $2.32 billion, a PE ratio of 42.96, a P/E/G ratio of 3.19 and a beta of 0.85. Mercury Systems Inc has a 52 week low of $30.11 and a 52 week high of $57.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.40 and a quick ratio of 2.94.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $144.10 million during the quarter, compared to the consensus estimate of $139.12 million. Mercury Systems had a net margin of 5.72% and a return on equity of 6.97%. The company’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, sell-side analysts expect that Mercury Systems Inc will post 1.41 earnings per share for the current fiscal year.
Mercury Systems Company 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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