King Luther Capital Management Corp decreased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,705 shares of the technology company’s stock after selling 40,205 shares during the period. King Luther Capital Management Corp owned about 0.43% of Mercury Systems worth $7,330,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Mercury Systems by 242,823.0% in the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after buying an additional 6,643,636 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Mercury Systems during the first quarter valued at $35,579,000. Vanguard Group Inc. boosted its position in Mercury Systems by 21.6% in the first quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock valued at $153,780,000 after buying an additional 700,484 shares during the last quarter. Alliancebernstein L.P. boosted its position in Mercury Systems by 1,334.8% in the first quarter. Alliancebernstein L.P. now owns 627,008 shares of the technology company’s stock valued at $24,485,000 after buying an additional 583,308 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Mercury Systems during the first quarter valued at $20,996,000. 99.50% of the stock is currently owned by institutional investors and hedge funds.
Mercury Systems Inc (NASDAQ MRCY) traded down 1.23% on Tuesday, reaching $38.68. 367,035 shares of the company traded hands. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 66.80 and a beta of 0.42. The stock has a 50 day moving average of $39.38 and a 200-day moving average of $36.25. Mercury Systems Inc has a 1-year low of $21.52 and a 1-year high of $41.49.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, April 25th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. The firm had revenue of $107.30 million for the quarter, compared to analyst estimates of $105.54 million. Mercury Systems had a return on equity of 4.58% and a net margin of 6.48%. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. On average, equities analysts anticipate that Mercury Systems Inc will post $1.10 EPS for the current year.
A number of brokerages have commented on MRCY. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, June 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 price target on shares of Mercury Systems in a research report on Wednesday, May 31st. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research report on Thursday, April 27th. Citigroup Inc. upped their price target on shares of Mercury Systems to $48.00 and gave the stock a “buy” rating in a research report on Monday, March 20th. Finally, J P Morgan Chase & Co initiated coverage on shares of Mercury Systems in a research report on Thursday, March 9th. They set an “overweight” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.00.
In other Mercury Systems news, COO Didier M. C. Thibaud sold 30,000 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $40.41, for a total value of $1,212,300.00. Following the transaction, the chief operating officer now directly owns 418,694 shares in the company, valued at approximately $16,919,424.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Aslett sold 9,600 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $40.26, for a total value of $386,496.00. Following the completion of the transaction, the insider now owns 557,449 shares in the company, valued at $22,442,896.74. The disclosure for this sale can be found here. Insiders sold a total of 68,200 shares of company stock worth $2,719,188 over the last quarter. Corporate insiders own 4.30% of the company’s stock.
About Mercury Systems
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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