Geneva Advisors LLC Raises Stake in Mercury Systems Inc (MRCY)
Geneva Advisors LLC increased its stake in Mercury Systems Inc (NASDAQ:MRCY) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,390 shares of the technology company’s stock after buying an additional 947 shares during the period. Geneva Advisors LLC owned about 0.06% of Mercury Systems worth $1,237,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its position in Mercury Systems by 18.2% in the first quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the technology company’s stock valued at $761,000 after buying an additional 3,000 shares during the last quarter. State of Alaska Department of Revenue increased its position in Mercury Systems by 18.9% in the first quarter. State of Alaska Department of Revenue now owns 5,290 shares of the technology company’s stock valued at $206,000 after buying an additional 840 shares during the last quarter. Nationwide Fund Advisors increased its position in Mercury Systems by 34.4% in the first quarter. Nationwide Fund Advisors now owns 96,952 shares of the technology company’s stock valued at $3,786,000 after buying an additional 24,822 shares during the last quarter. Profund Advisors LLC increased its position in Mercury Systems by 2.9% in the first quarter. Profund Advisors LLC now owns 8,143 shares of the technology company’s stock valued at $318,000 after buying an additional 230 shares during the last quarter. Finally, First Mercantile Trust Co. bought a new position in Mercury Systems during the first quarter valued at about $159,000. Institutional investors own 96.67% of the company’s stock.
Shares of Mercury Systems Inc (NASDAQ:MRCY) opened at 46.90 on Monday. Mercury Systems Inc has a 12 month low of $21.52 and a 12 month high of $48.17. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 80.86 and a beta of 0.39. The stock’s 50 day moving average is $44.88 and its 200 day moving average is $40.41.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The firm had revenue of $115.60 million for the quarter, compared to analysts’ expectations of $115.11 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 35.3% on a year-over-year basis. Equities research analysts forecast that Mercury Systems Inc will post $1.24 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on MRCY shares. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Thursday, May 18th. Jefferies Group LLC restated a “hold” rating and set a $43.00 price objective on shares of Mercury Systems in a report on Wednesday, May 31st. Finally, BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Mercury Systems currently has an average rating of “Buy” and an average price target of $43.00.
In related news, insider Mark Aslett sold 9,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $38.04, for a total value of $357,576.00. Following the transaction, the insider now directly owns 538,249 shares in the company, valued at $20,474,991.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Charles A. Speicher sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $44.09, for a total transaction of $308,630.00. Following the completion of the transaction, the vice president now owns 36,983 shares in the company, valued at $1,630,580.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,000 shares of company stock worth $1,045,790. Company insiders own 4.30% of the company’s stock.
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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