Ranger Investment Management L.P. Sells 20,005 Shares of Mercury Systems Inc (MRCY)
Ranger Investment Management L.P. reduced its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 412,190 shares of the technology company’s stock after selling 20,005 shares during the quarter. Ranger Investment Management L.P.’s holdings in Mercury Systems were worth $21,166,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MRCY. The Manufacturers Life Insurance Company increased its position in Mercury Systems by 14.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,648 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 4,440 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Mercury Systems in the 3rd quarter valued at approximately $647,000. Crossmark Global Holdings Inc. acquired a new position in Mercury Systems in the 3rd quarter valued at approximately $835,000. Prudential Financial Inc. increased its position in Mercury Systems by 1.9% in the 3rd quarter. Prudential Financial Inc. now owns 82,050 shares of the technology company’s stock valued at $4,257,000 after acquiring an additional 1,520 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Mercury Systems by 77.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,479 shares of the technology company’s stock valued at $1,374,000 after acquiring an additional 11,570 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.
Several equities analysts have issued reports on MRCY shares. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a research report on Wednesday, December 27th. BidaskClub cut shares of Mercury Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Citigroup restated a “buy” rating and issued a $61.00 price target on shares of Mercury Systems in a research report on Wednesday, January 24th. SunTrust Banks restated a “buy” rating and issued a $61.00 price target on shares of Mercury Systems in a research report on Tuesday, January 9th. Finally, Bank of America reduced their price objective on shares of Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.71.
Shares of Mercury Systems Inc (NASDAQ MRCY) opened at $47.33 on Monday. Mercury Systems Inc has a 12 month low of $36.09 and a 12 month high of $55.00. The company has a market cap of $2,283.32, a price-to-earnings ratio of 51.45, a PEG ratio of 3.80 and a beta of 0.40.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The firm had revenue of $117.90 million during the quarter, compared to the consensus estimate of $114.89 million. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. equities analysts predict that Mercury Systems Inc will post 1.09 EPS for the current year.
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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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