Prudential Financial Inc. Acquires 23,990 Shares of Mercury Systems Inc (NASDAQ:MRCY)

Prudential Financial Inc. raised its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 30.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,413 shares of the technology company’s stock after buying an additional 23,990 shares during the quarter. Prudential Financial Inc. owned about 0.19% of Mercury Systems worth $7,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in Mercury Systems in the 2nd quarter worth $7,479,000. Granite Investment Partners LLC increased its holdings in shares of Mercury Systems by 3.9% in the second quarter. Granite Investment Partners LLC now owns 245,404 shares of the technology company’s stock worth $17,264,000 after purchasing an additional 9,193 shares during the last quarter. LS Investment Advisors LLC increased its holdings in shares of 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 purchasing an additional 146 shares during the last quarter. Brasada Capital Management LP bought a new stake in shares of Mercury Systems in the second quarter worth about $352,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Mercury Systems in the second quarter worth about $6,274,000. Hedge funds and other institutional investors own 96.82% of the company’s stock.

MRCY has been the subject of a number of research reports. Goldman Sachs Group began coverage on Mercury Systems in a research note on Friday, August 16th. They set a “neutral” rating and a $75.00 price target for the company. BidaskClub downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Mercury Systems from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Bank of America upgraded Mercury Systems from an “underperform” rating to a “neutral” rating and increased their target price for the company from $50.00 to $85.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $73.50.

In other news, EVP Christopher C. Cambria sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $88.61, for a total value of $886,100.00. Following the completion of the sale, the executive vice president now owns 67,152 shares in the company, valued at approximately $5,950,338.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Didier M. C. Thibaud sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $84.12, for a total transaction of $2,523,600.00. Following the completion of the sale, the chief operating officer now owns 262,365 shares of the company’s stock, valued at approximately $22,070,143.80. The disclosure for this sale can be found here. Insiders sold a total of 61,038 shares of company stock valued at $5,032,059 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Shares of Mercury Systems stock traded down $0.30 during trading hours on Wednesday, reaching $76.57. The company’s stock had a trading volume of 60,135 shares, compared to its average volume of 335,435. The firm has a 50 day moving average price of $81.52 and a 200-day moving average price of $71.27. The stock has a market cap of $4.26 billion, a P/E ratio of 50.38, a P/E/G ratio of 4.19 and a beta of 1.11. Mercury Systems Inc has a one year low of $41.16 and a one year high of $89.44.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.11. The firm had revenue of $176.96 million during the quarter, compared to the consensus estimate of $171.98 million. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. Research analysts anticipate that Mercury Systems Inc will post 1.72 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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