Wrapmanager Inc. Decreases Holdings in Mercury Systems Inc (NASDAQ:MRCY)
Wrapmanager Inc. decreased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,957 shares of the technology company’s stock after selling 825 shares during the quarter. Wrapmanager Inc.’s holdings in Mercury Systems were worth $278,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its stake in Mercury Systems by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,409,386 shares of the technology company’s stock valued at $90,313,000 after buying an additional 7,899 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Mercury Systems by 11.7% in the 1st quarter. Federated Investors Inc. PA now owns 1,015,224 shares of the technology company’s stock valued at $65,056,000 after buying an additional 106,624 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Mercury Systems by 10.7% in the 1st quarter. OppenheimerFunds Inc. now owns 898,207 shares of the technology company’s stock valued at $57,557,000 after buying an additional 86,858 shares in the last quarter. Geode Capital Management LLC lifted its stake in Mercury Systems by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 545,176 shares of the technology company’s stock valued at $25,781,000 after buying an additional 41,114 shares in the last quarter. Finally, Norges Bank purchased a new stake in Mercury Systems in the 4th quarter valued at approximately $22,017,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 target price (up previously from $64.00) on shares of Mercury Systems in a research note on Friday, April 26th. Bank of America raised Mercury Systems from an “underperform” rating to a “neutral” rating and upped their target price for the company from $50.00 to $85.00 in a research note on Friday, August 9th. Zacks Investment Research raised Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. BidaskClub lowered Mercury Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.20.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. The company had revenue of $176.96 million for the quarter, compared to analyst estimates of $171.98 million. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, analysts forecast that Mercury Systems Inc will post 1.72 EPS for the current fiscal year.
In other Mercury Systems news, CEO Mark Aslett sold 10,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $68.10, for a total transaction of $681,000.00. Following the transaction, the chief executive officer now owns 342,440 shares of the company’s stock, valued at approximately $23,320,164. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 30,000 shares of company stock worth $2,024,200. Corporate insiders own 2.80% of the company’s stock.
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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