King Luther Capital Management Corp reduced its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,270 shares of the technology company’s stock after selling 2,075 shares during the quarter. King Luther Capital Management Corp owned 0.18% of Mercury Systems worth $4,938,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of 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 buying an additional 672,821 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Mercury Systems by 73.4% during the 2nd quarter. Sterling Capital Management LLC now owns 99,820 shares of the technology company’s stock valued at $3,799,000 after acquiring an additional 42,262 shares in the last quarter. Rhumbline Advisers raised its position in shares of Mercury Systems by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 115,660 shares of the technology company’s stock valued at $4,402,000 after acquiring an additional 3,625 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Mercury Systems during the 2nd quarter valued at approximately $1,708,000. Finally, FMR LLC raised its position in shares of Mercury Systems by 54.4% during the 2nd quarter. FMR LLC now owns 499,400 shares of the technology company’s stock valued at $19,007,000 after acquiring an additional 176,000 shares in the last quarter.
In other Mercury Systems news, COO Didier M. C. Thibaud sold 3,500 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $55.06, for a total value of $192,710.00. Following the sale, the chief operating officer now directly owns 315,025 shares of the company’s stock, valued at $17,345,276.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Aslett sold 4,700 shares of the stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $55.11, for a total value of $259,017.00. Following the completion of the sale, the insider now directly owns 414,195 shares in the company, valued at $22,826,286.45. The disclosure for this sale can be found here. Insiders sold 58,200 shares of company stock worth $3,029,927 over the last ninety days. 2.80% of the stock is owned by corporate insiders.
MRCY stock opened at $48.21 on Friday. The company has a current ratio of 4.40, a quick ratio of 2.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.34 billion, a P/E ratio of 42.76, a PEG ratio of 2.98 and a beta of 0.80. Mercury Systems Inc has a 12-month low of $30.11 and a 12-month high of $57.26.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.04. Mercury Systems had a return on equity of 6.97% and a net margin of 5.72%. The business had revenue of $144.10 million for the quarter, compared to analyst estimates of $139.12 million. During the same period in the prior year, the company posted $0.37 EPS. The business’s revenue was up 35.8% compared to the same quarter last year. Sell-side analysts expect that Mercury Systems Inc will post 1.41 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Drexel Hamilton set a $58.00 price target on Mercury Systems and gave the company a “buy” rating in a research report on Wednesday, October 31st. BidaskClub raised Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 10th. Canaccord Genuity assumed coverage on Mercury Systems in a research report on Thursday, October 4th. They set a “buy” rating and a $64.00 price target on the stock. ValuEngine raised Mercury Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Finally, Zacks Investment Research raised Mercury Systems from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Mercury Systems presently has an average rating of “Buy” and a consensus target price of $53.86.
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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