Macquarie Group Ltd. lowered its position in Mercury Systems Inc. (NASDAQ:MRCY) by 67.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,450 shares of the technology company’s stock after selling 27,700 shares during the quarter. Macquarie Group Ltd.’s holdings in Mercury Systems were worth $691,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Trust Group LLC purchased a new stake in shares of Mercury Systems in the third quarter valued at $1,258,000. Janney Montgomery Scott LLC purchased a new stake in shares of Mercury Systems in the third quarter valued at $1,065,000. Bamco Inc. NY raised its stake in shares of Mercury Systems by 8.9% in the third quarter. Bamco Inc. NY now owns 1,226,000 shares of the technology company’s stock valued at $63,605,000 after acquiring an additional 100,000 shares during the period. Legal & General Group Plc raised its stake in shares of Mercury Systems by 8.2% in the third quarter. Legal & General Group Plc now owns 93,854 shares of the technology company’s stock valued at $4,866,000 after acquiring an additional 7,122 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Mercury Systems by 15.7% in the third quarter. California Public Employees Retirement System now owns 54,242 shares of the technology company’s stock valued at $2,814,000 after acquiring an additional 7,342 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ MRCY opened at $45.86 on Tuesday. The stock has a market capitalization of $2,294.42, a PE ratio of 48.27, a P/E/G ratio of 3.82 and a beta of 0.36. Mercury Systems Inc. has a 12 month low of $36.09 and a 12 month high of $55.00.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The company had revenue of $117.90 million during the quarter, compared to the consensus estimate of $114.89 million. Mercury Systems had a return on equity of 6.32% and a net margin of 9.61%. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. research analysts predict that Mercury Systems Inc. will post 1.09 EPS for the current year.
In other Mercury Systems news, insider Mark Aslett sold 9,600 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $48.35, for a total transaction of $464,160.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Didier M. C. Thibaud sold 3,500 shares of the stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $48.01, for a total transaction of $168,035.00. Following the transaction, the chief operating officer now owns 348,440 shares in the company, valued at $16,728,604.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,900 shares of company stock worth $2,944,668. Company insiders own 3.50% of the company’s stock.
MRCY has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a research note on Thursday, January 11th. SunTrust Banks reissued a “buy” rating and issued a $61.00 target price on shares of Mercury Systems in a research note on Tuesday, January 9th. BidaskClub downgraded shares of Mercury Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, January 19th. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research note on Thursday, January 25th. Finally, Bank of America reduced their target price on shares of Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $55.83.
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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. The company's products and solutions are deployed in approximately 300 programs with 25 defense prime contractors. Its principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, and Paveway.
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