AQR Capital Management LLC Reduces Position in Mercury Systems Inc (NASDAQ:MRCY)

AQR Capital Management LLC cut its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 40.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,927 shares of the technology company’s stock after selling 27,431 shares during the quarter. AQR Capital Management LLC owned approximately 0.07% of Mercury Systems worth $2,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brinker Capital Inc. lifted its holdings in shares of Mercury Systems by 2.4% in the first quarter. Brinker Capital Inc. now owns 6,260 shares of the technology company’s stock worth $447,000 after buying an additional 144 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Mercury Systems by 25.4% in the first quarter. Synovus Financial Corp now owns 844 shares of the technology company’s stock worth $61,000 after buying an additional 171 shares in the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Mercury Systems by 1.2% in the first quarter. Penn Capital Management Co. Inc. now owns 33,772 shares of the technology company’s stock worth $2,493,000 after buying an additional 397 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Mercury Systems by 5.0% in the first quarter. State of Alaska Department of Revenue now owns 9,585 shares of the technology company’s stock worth $683,000 after buying an additional 453 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Mercury Systems by 1.7% in the first quarter. Envestnet Asset Management Inc. now owns 27,526 shares of the technology company’s stock worth $1,964,000 after buying an additional 468 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MRCY opened at $78.66 on Wednesday. Mercury Systems Inc has a one year low of $52.24 and a one year high of $96.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.52 and a quick ratio of 5.19. The firm’s 50 day simple moving average is $83.32 and its two-hundred day simple moving average is $77.69. The stock has a market capitalization of $4.34 billion, a P/E ratio of 59.59, a PEG ratio of 2.77 and a beta of 1.00.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Mercury Systems had a net margin of 9.43% and a return on equity of 7.04%. The business had revenue of $208.00 million for the quarter, compared to analysts’ expectations of $199.17 million. During the same period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, equities analysts expect that Mercury Systems Inc will post 1.79 earnings per share for the current fiscal year.

In other Mercury Systems news, CEO Mark Aslett sold 6,250 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $78.03, for a total transaction of $487,687.50. Following the transaction, the chief executive officer now directly owns 278,563 shares in the company, valued at $21,736,270.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 18,750 shares of company stock worth $1,508,625 over the last quarter. Company insiders own 2.80% of the company’s stock.

MRCY has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on shares of Mercury Systems in a report on Wednesday, May 20th. They issued a “sector perform” rating and a $87.00 price target on the stock. They noted that the move was a valuation call. SunTrust Banks raised their target price on shares of Mercury Systems from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $72.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, BidaskClub downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.63.

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.

Further Reading: What is the G-20?

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

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