Mercury Systems Inc (MRCY) Position Raised by Alliancebernstein L.P.
Alliancebernstein L.P. increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 15.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 725,570 shares of the technology company’s stock after acquiring an additional 98,562 shares during the quarter. Alliancebernstein L.P. owned approximately 1.57% of Mercury Systems worth $30,539,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in Mercury Systems by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 25,075 shares of the technology company’s stock worth $1,055,000 after acquiring an additional 100 shares in the last quarter. Wrapmanager Inc. increased its holdings in Mercury Systems by 3.5% in the 2nd quarter. Wrapmanager Inc. now owns 6,126 shares of the technology company’s stock worth $258,000 after acquiring an additional 205 shares in the last quarter. Profund Advisors LLC increased its holdings in Mercury Systems by 2.9% in the 1st quarter. Profund Advisors LLC now owns 8,143 shares of the technology company’s stock worth $318,000 after acquiring an additional 230 shares in the last quarter. Texas Permanent School Fund increased its holdings in Mercury Systems by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 35,040 shares of the technology company’s stock worth $1,475,000 after acquiring an additional 328 shares in the last quarter. Finally, LS Investment Advisors LLC increased its holdings in Mercury Systems by 7.7% in the 2nd quarter. LS Investment Advisors LLC now owns 5,169 shares of the technology company’s stock worth $218,000 after acquiring an additional 370 shares in the last quarter. 96.43% of the stock is owned by institutional investors.
Mercury Systems Inc (NASDAQ MRCY) opened at 47.45 on Tuesday. The stock’s 50 day moving average is $46.51 and its 200 day moving average is $41.64. Mercury Systems Inc has a 12 month low of $22.31 and a 12 month high of $49.24. The firm has a market cap of $2.28 billion, a PE ratio of 81.81 and a beta of 0.42.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to analysts’ expectations of $115.11 million. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The firm’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, equities analysts forecast that Mercury Systems Inc will post $1.24 earnings per share for the current year.
In other Mercury Systems news, VP Charles A. Speicher sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the sale, the vice president now directly owns 36,983 shares of the company’s stock, valued at approximately $1,630,580.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Aslett sold 9,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $47.32, for a total value of $454,272.00. Following the completion of the sale, the insider now directly owns 519,382 shares in the company, valued at $24,577,156.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,400 shares of company stock worth $990,518. 3.50% of the stock is owned by corporate insiders.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $45.00 target price on shares of Mercury Systems in a research note on Wednesday, August 2nd. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $43.00.
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Mercury Systems 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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