Quantinno Capital Management LP Buys New Stake in Mercury Systems Inc (NASDAQ:MRCY)
Quantinno Capital Management LP bought a new stake in Mercury Systems Inc (NASDAQ:MRCY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,582 shares of the technology company’s stock, valued at approximately $550,000.
A number of other institutional investors have also recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new position in Mercury Systems during the 1st quarter valued at about $42,000. Flagship Harbor Advisors LLC acquired a new position in Mercury Systems during the 1st quarter valued at about $44,000. Fifth Third Bancorp boosted its stake in Mercury Systems by 51.3% during the 1st quarter. Fifth Third Bancorp now owns 920 shares of the technology company’s stock valued at $59,000 after purchasing an additional 312 shares during the last quarter. Advisors Preferred LLC acquired a new position in Mercury Systems during the 1st quarter valued at about $106,000. Finally, Strs Ohio boosted its stake in Mercury Systems by 53.3% during the 4th quarter. Strs Ohio now owns 2,300 shares of the technology company’s stock valued at $108,000 after purchasing an additional 800 shares during the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Mark Aslett sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $62.58, for a total value of $312,900.00. Following the transaction, the chief executive officer now owns 367,440 shares in the company, valued at approximately $22,994,395.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 35,000 shares of company stock worth $2,393,200 in the last 90 days. Company insiders own 2.80% of the company’s stock.
Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, April 30th. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Mercury Systems had a return on equity of 9.24% and a net margin of 6.99%. The firm had revenue of $174.60 million for the quarter, compared to the consensus estimate of $165.61 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 50.1% compared to the same quarter last year. On average, analysts forecast that Mercury Systems Inc will post 1.52 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Mercury Systems from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Saturday, May 4th. Canaccord Genuity restated a “buy” rating and issued a $76.00 target price (up previously from $64.00) on shares of Mercury Systems in a research note on Friday, April 26th. BidaskClub downgraded Mercury Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. Finally, Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Mercury Systems presently has an average rating of “Buy” and a consensus price target of $70.75.
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Mercury Systems Company Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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