Victory Capital Management Inc. raised its stake in Mercury Systems Inc. (NASDAQ:MRCY) by 1,608.3% during the second quarter, Holdings Channel reports. The fund owned 45,833 shares of the company’s stock after buying an additional 43,150 shares during the period. Victory Capital Management Inc. owned about 0.12% of Mercury Systems worth $1,139,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MRCY. Capstone Asset Management Co. purchased a new position in shares of Mercury Systems during the second quarter valued at about $296,000. BNP Paribas Arbitrage SA increased its position in shares of Mercury Systems by 154.9% in the second quarter. BNP Paribas Arbitrage SA now owns 12,456 shares of the company’s stock valued at $310,000 after buying an additional 7,570 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Mercury Systems by 37.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 12,695 shares of the company’s stock valued at $258,000 after buying an additional 3,455 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Mercury Systems by 7,490.6% in the first quarter. Glenmede Trust Co. NA now owns 12,904 shares of the company’s stock valued at $261,000 after buying an additional 12,734 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Mercury Systems during the first quarter valued at about $264,000. 91.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of Mercury Systems Inc. (NASDAQ:MRCY) traded up 0.87% during mid-day trading on Wednesday, reaching $23.09. 42,218 shares of the company’s stock were exchanged. The company has a market capitalization of $931.91 million, a PE ratio of 41.23 and a beta of 1.02. Mercury Systems Inc. has a one year low of $15.41 and a one year high of $26.37. The company’s 50-day moving average price is $23.19 and its 200-day moving average price is $22.05.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.15. Mercury Systems had a net margin of 7.31% and a return on equity of 6.47%. The business had revenue of $85.40 million for the quarter, compared to analysts’ expectations of $69.51 million. During the same period last year, the business earned $0.18 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that Mercury Systems Inc. will post $0.67 earnings per share for the current year.

MRCY has been the topic of several analyst reports. Citigroup Inc. initiated coverage on shares of Mercury Systems in a research note on Friday, June 10th. They issued a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective for the company in a report on Tuesday, July 5th. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating and set a $27.00 price objective (up from $22.00) on shares of Mercury Systems in a report on Thursday, August 4th. Finally, Drexel Hamilton initiated coverage on shares of Mercury Systems in a report on Thursday, August 25th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $27.00.

About Mercury Systems

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