Russell Investments Group Ltd. cut its stake in Mercury Systems Inc (NASDAQ:MRCY) by 9.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,452 shares of the technology company’s stock after selling 10,836 shares during the quarter. Russell Investments Group Ltd. owned about 0.18% of Mercury Systems worth $7,131,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. LS Investment Advisors LLC lifted its position in Mercury Systems by 10.1% in the second quarter. LS Investment Advisors LLC now owns 1,595 shares of the technology company’s stock worth $112,000 after buying an additional 146 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Mercury Systems in the first quarter worth $128,000. NEXT Financial Group Inc bought a new stake in Mercury Systems in the second quarter worth $170,000. Meitav Dash Investments Ltd. bought a new stake in Mercury Systems in the first quarter worth $203,000. Finally, CIBC Asset Management Inc bought a new stake in Mercury Systems in the first quarter worth $227,000. Institutional investors own 96.82% of the company’s stock.
Several research firms have recently weighed in on MRCY. Goldman Sachs Group began coverage on Mercury Systems in a research report on Friday, August 16th. They set a “neutral” rating and a $75.00 target price for the company. BidaskClub downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America upgraded Mercury Systems from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $85.00 in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mercury Systems has a consensus rating of “Buy” and an average price target of $73.50.
Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.11. Mercury Systems had a return on equity of 8.11% and a net margin of 7.14%. The business had revenue of $176.96 million during the quarter, compared to the consensus estimate of $171.98 million. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Mercury Systems Inc will post 1.72 earnings per share for the current fiscal year.
In other news, CAO Michelle M. Mccarthy sold 624 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $84.99, for a total transaction of $53,033.76. Following the transaction, the chief accounting officer now owns 10,982 shares in the company, valued at $933,360.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Aslett sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $68.42, for a total value of $684,200.00. Following the transaction, the insider now owns 327,440 shares in the company, valued at approximately $22,403,444.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,538 shares of company stock worth $5,148,579. Insiders own 2.80% of the company’s stock.
About Mercury Systems
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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