Mercury Systems (MRCY) Shares Up 7.6%

Shares of Mercury Systems Inc (NASDAQ:MRCY) shot up 7.6% during mid-day trading on Friday . The stock traded as high as $45.88 and last traded at $45.00. 966,861 shares traded hands during trading, an increase of 97% from the average session volume of 489,824 shares. The stock had previously closed at $41.82.

Several brokerages recently issued reports on MRCY. Citigroup reaffirmed a “buy” rating and set a $61.00 price objective on shares of Mercury Systems in a research note on Wednesday, January 24th. BidaskClub raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 28th. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research note on Thursday, January 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $48.00 price objective on shares of Mercury Systems in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $54.71.

The firm has a market cap of $2,162.23, a P/E ratio of 49.08, a PEG ratio of 3.86 and a beta of 0.33.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, January 23rd. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $117.90 million during the quarter, compared to analyst estimates of $114.89 million. Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. equities analysts forecast that Mercury Systems Inc will post 1.09 EPS for the current fiscal year.

In other Mercury Systems news, CFO Gerald M. Haines II sold 2,500 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $51.62, for a total value of $129,050.00. Following the transaction, the chief financial officer now directly owns 215,760 shares in the company, valued at approximately $11,137,531.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $52.17, for a total transaction of $500,832.00. The disclosure for this sale can be found here. Insiders sold a total of 70,600 shares of company stock worth $3,558,499 over the last quarter. 3.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Centaurus Financial Inc. acquired a new position in Mercury Systems in the 4th quarter valued at about $427,000. Virtus Fund Advisers LLC boosted its holdings in Mercury Systems by 12.5% in the 4th quarter. Virtus Fund Advisers LLC now owns 10,626 shares of the technology company’s stock valued at $546,000 after purchasing an additional 1,178 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Mercury Systems by 6.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 28,509 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 1,696 shares during the last quarter. BlackRock Inc. boosted its holdings in Mercury Systems by 3.0% in the 4th quarter. BlackRock Inc. now owns 7,240,899 shares of the technology company’s stock valued at $371,819,000 after purchasing an additional 213,219 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Mercury Systems by 17.8% in the 4th quarter. Rhumbline Advisers now owns 110,379 shares of the technology company’s stock valued at $5,668,000 after purchasing an additional 16,704 shares during the last quarter. Institutional investors own 96.26% of the company’s stock.

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Mercury Systems Company Profile

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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