Pier Capital LLC lowered its position in Mercury Systems Inc (NASDAQ:MRCY) by 5.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 162,903 shares of the technology company’s stock after selling 8,605 shares during the period. Mercury Systems accounts for approximately 1.4% of Pier Capital LLC’s portfolio, making the stock its 4th biggest holding. Pier Capital LLC’s holdings in Mercury Systems were worth $8,365,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Atlantic Trust Group LLC purchased a new position in shares of Mercury Systems during the 3rd quarter worth $1,258,000. Bamco Inc. NY raised its holdings in shares of Mercury Systems by 8.9% during the 3rd quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock worth $63,605,000 after acquiring an additional 100,000 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Mercury Systems during the 3rd quarter worth $1,065,000. Legal & General Group Plc raised its holdings in shares of Mercury Systems by 8.2% during the 3rd quarter. Legal & General Group Plc now owns 93,854 shares of the technology company’s stock worth $4,866,000 after acquiring an additional 7,122 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Mercury Systems by 15.7% during the 3rd quarter. California Public Employees Retirement System now owns 54,242 shares of the technology company’s stock worth $2,814,000 after acquiring an additional 7,342 shares during the period. Institutional investors own 93.52% of the company’s stock.
MRCY has been the topic of several analyst reports. Citigroup reiterated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a report on Wednesday, January 24th. SunTrust Banks reiterated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a report on Tuesday, January 9th. Bank of America reduced their price target on Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, January 25th. Finally, Zacks Investment Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Mercury Systems currently has an average rating of “Hold” and a consensus target price of $55.83.
In related news, CFO Gerald M. Haines II sold 2,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $51.07, for a total value of $127,675.00. Following the sale, the chief financial officer now directly owns 213,260 shares in the company, valued at approximately $10,891,188.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Didier M. C. Thibaud sold 3,500 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $51.07, for a total transaction of $178,745.00. Following the completion of the sale, the chief operating officer now owns 369,440 shares in the company, valued at $18,867,300.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,400 shares of company stock worth $3,083,053. 3.50% of the stock is owned by insiders.
Shares of Mercury Systems stock opened at $48.37 on Monday. The stock has a market cap of $2,333.49, a PE ratio of 49.87, a P/E/G ratio of 3.88 and a beta of 0.40. Mercury Systems Inc has a fifty-two week low of $36.09 and a fifty-two week high of $55.00.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $114.89 million. Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. analysts forecast that Mercury Systems Inc will post 1.09 EPS for the current year.
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Mercury Systems Company Profile
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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