RK Capital Management LLC reduced its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 15.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 326,888 shares of the technology company’s stock after selling 60,500 shares during the period. Mercury Systems makes up about 2.8% of RK Capital Management LLC’s investment portfolio, making the stock its 10th largest position. RK Capital Management LLC owned about 0.71% of Mercury Systems worth $13,759,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. increased its position in Mercury Systems by 242,823.0% in the 1st quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock worth $259,540,000 after buying an additional 6,643,636 shares during the period. Vanguard Group Inc. increased its position in Mercury Systems by 21.6% in the 1st quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock worth $153,780,000 after buying an additional 700,484 shares during the period. Wells Fargo & Company MN increased its position in Mercury Systems by 323.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,421 shares of the technology company’s stock worth $93,878,000 after buying an additional 1,703,774 shares during the period. Bank of New York Mellon Corp increased its position in Mercury Systems by 22.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,573,345 shares of the technology company’s stock worth $61,439,000 after buying an additional 292,704 shares during the period. Finally, State Street Corp increased its position in Mercury Systems by 44.0% in the 1st quarter. State Street Corp now owns 1,488,490 shares of the technology company’s stock worth $58,127,000 after buying an additional 455,128 shares during the period. 96.67% of the stock is currently owned by institutional investors.
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In other news, insider Mark Aslett sold 9,600 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $47.32, for a total transaction of $454,272.00. Following the transaction, the insider now owns 519,382 shares in the company, valued at $24,577,156.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Charles A. Speicher sold 7,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the transaction, the vice president now owns 36,983 shares in the company, valued at approximately $1,630,580.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,400 shares of company stock worth $990,518. 3.50% of the stock is owned by corporate insiders.
Several research analysts have commented on MRCY shares. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, July 5th. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 price target on shares of Mercury Systems in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $43.00.
Mercury Systems Inc (NASDAQ:MRCY) traded down 0.38% during mid-day trading on Friday, hitting $47.03. The stock had a trading volume of 592,255 shares. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 81.09 and a beta of 0.42. The stock’s 50 day moving average price is $46.41 and its 200 day moving average price is $41.52. Mercury Systems Inc has a one year low of $22.31 and a one year high of $49.24.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $115.60 million during the quarter, compared to analysts’ expectations of $115.11 million. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue was up 35.3% on a year-over-year basis. Analysts forecast that Mercury Systems Inc will post $1.24 EPS for the current year.
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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