King Luther Capital Management Corp cut its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,600 shares of the technology company’s stock after selling 10,175 shares during the quarter. King Luther Capital Management Corp owned about 0.26% of Mercury Systems worth $6,464,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted 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 valued at $1,055,000 after purchasing an additional 100 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in Mercury Systems by 8.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 29,020 shares of the technology company’s stock valued at $1,221,000 after purchasing an additional 2,230 shares during the last quarter. Aperio Group LLC boosted its holdings in Mercury Systems by 40.9% in the 2nd quarter. Aperio Group LLC now owns 8,205 shares of the technology company’s stock valued at $345,000 after purchasing an additional 2,381 shares during the last quarter. KBC Group NV acquired a new position in Mercury Systems in the 2nd quarter valued at about $1,397,000. Finally, Principal Financial Group Inc. boosted its holdings in Mercury Systems by 3.8% in the 2nd quarter. Principal Financial Group Inc. now owns 396,151 shares of the technology company’s stock valued at $16,674,000 after purchasing an additional 14,345 shares during the last quarter. Institutional investors own 96.38% of the company’s stock.
In related news, CEO Mark Aslett sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $47.42, for a total transaction of $227,616.00. Following the sale, the chief executive officer now directly owns 519,382 shares of the company’s stock, valued at approximately $24,629,094.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $51.94, for a total transaction of $129,850.00. Following the sale, the chief financial officer now directly owns 220,760 shares in the company, valued at $11,466,274.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,900 shares of company stock worth $3,260,837. Company insiders own 3.50% of the company’s stock.
Several brokerages have recently commented on MRCY. SunTrust Banks restated a “buy” rating on shares of Mercury Systems in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, October 31st. Robert W. Baird upped their price objective on shares of Mercury Systems from $48.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Finally, Noble Financial restated a “hold” rating on shares of Mercury Systems in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $51.17.
Mercury Systems Inc (MRCY) opened at $51.70 on Thursday. Mercury Systems Inc has a fifty-two week low of $29.31 and a fifty-two week high of $54.49. The company has a market cap of $2,458.87, a P/E ratio of 54.81, a PEG ratio of 4.23 and a beta of 0.23.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.26 by $0.11. Mercury Systems had a net margin of 9.14% and a return on equity of 6.51%. The firm had revenue of $106.10 million for the quarter, compared to analyst estimates of $105.18 million. During the same period in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. research analysts forecast that Mercury Systems Inc will post 1.08 EPS for the current year.
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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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