First Trust Advisors LP Takes Position in Mercury Systems Inc (MRCY)

First Trust Advisors LP acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 52,593 shares of the technology company’s stock, valued at approximately $2,487,000. First Trust Advisors LP owned 0.11% of Mercury Systems as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Mercury Systems by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 5,374 shares of the technology company’s stock worth $254,000 after acquiring an additional 209 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Mercury Systems by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 16,176 shares of the technology company’s stock worth $764,000 after acquiring an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mercury Systems by 11.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,545 shares of the technology company’s stock worth $168,000 after acquiring an additional 363 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in Mercury Systems by 3.3% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 11,492 shares of the technology company’s stock worth $543,000 after acquiring an additional 366 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Mercury Systems by 27.8% during the 4th quarter. Bank of Montreal Can now owns 3,181 shares of the technology company’s stock worth $150,000 after acquiring an additional 691 shares during the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.

A number of research firms have weighed in on MRCY. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a research report on Saturday, February 2nd. BidaskClub downgraded Mercury Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. ValuEngine downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Drexel Hamilton reaffirmed a “buy” rating and set a $67.00 price target on shares of Mercury Systems in a research report on Wednesday, January 30th. Finally, SunTrust Banks upped their price target on Mercury Systems to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.67.

NASDAQ MRCY opened at $62.21 on Friday. The company has a market capitalization of $3.01 billion, a PE ratio of 55.05, a P/E/G ratio of 3.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.29 and a quick ratio of 2.93. Mercury Systems Inc has a 12 month low of $30.11 and a 12 month high of $67.85.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, January 29th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $159.09 million during the quarter, compared to the consensus estimate of $154.45 million. Mercury Systems had a return on equity of 8.31% and a net margin of 5.88%. On average, sell-side analysts forecast that Mercury Systems Inc will post 1.48 earnings per share for the current year.

In other news, insider Mark Aslett sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $48.40, for a total value of $484,000.00. Following the completion of the sale, the insider now owns 387,440 shares of the company’s stock, valued at approximately $18,752,096. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Didier M. C. Thibaud sold 39,736 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $60.22, for a total value of $2,392,901.92. Following the completion of the sale, the chief operating officer now directly owns 298,940 shares of the company’s stock, valued at approximately $18,002,166.80. The disclosure for this sale can be found here. In the last three months, insiders sold 59,736 shares of company stock valued at $3,462,402. 2.80% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “First Trust Advisors LP Takes Position in Mercury Systems Inc (MRCY)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2019/03/17/first-trust-advisors-lp-takes-position-in-mercury-systems-inc-mrcy.html.

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.

Featured Article: What are retained earnings?

Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems Inc (NASDAQ:MRCY).

Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

Receive News & Ratings for Mercury Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply