Granite Investment Partners LLC Purchases 9,467 Shares of Mercury Systems Inc (MRCY)
Granite Investment Partners LLC boosted its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,844 shares of the technology company’s stock after buying an additional 9,467 shares during the period. Mercury Systems comprises about 1.1% of Granite Investment Partners LLC’s holdings, making the stock its 14th largest position. Granite Investment Partners LLC’s holdings in Mercury Systems were worth $16,745,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Mercury Systems by 242,823.0% in the first quarter. BlackRock Inc. now owns 6,646,372 shares of the technology company’s stock valued at $259,540,000 after buying an additional 6,643,636 shares during the last quarter. Vanguard Group Inc. increased its stake in Mercury Systems by 21.6% in the first quarter. Vanguard Group Inc. now owns 3,938,032 shares of the technology company’s stock valued at $153,780,000 after buying an additional 700,484 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Mercury Systems by 22.9% in the first quarter. Bank of New York Mellon Corp now owns 1,573,345 shares of the technology company’s stock valued at $61,439,000 after buying an additional 292,704 shares during the last quarter. State Street Corp increased its stake in Mercury Systems by 44.0% in the first quarter. State Street Corp now owns 1,488,490 shares of the technology company’s stock valued at $58,127,000 after buying an additional 455,128 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Mercury Systems by 920.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,176 shares of the technology company’s stock valued at $48,077,000 after buying an additional 1,110,474 shares during the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
Mercury Systems Inc (NASDAQ MRCY) opened at 44.40 on Thursday. The company has a market capitalization of $2.05 billion, a P/E ratio of 76.55 and a beta of 0.39. Mercury Systems Inc has a one year low of $21.52 and a one year high of $45.18. The firm has a 50-day moving average of $43.17 and a 200-day moving average of $39.33.
Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 1st. The technology company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.08. The firm had revenue of $115.60 million during the quarter, compared to analyst estimates of $115.11 million. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. On average, analysts anticipate that Mercury Systems Inc will post $1.24 earnings per share for the current year.
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MRCY has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a report on Thursday, April 27th. BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 target price on shares of Mercury Systems in a report on Wednesday, May 31st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $43.00.
In other Mercury Systems news, insider Mark Aslett sold 9,400 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $38.04, for a total transaction of $357,576.00. Following the completion of the sale, the insider now directly owns 538,249 shares in the company, valued at $20,474,991.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Charles A. Speicher sold 7,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $44.09, for a total value of $308,630.00. Following the sale, the vice president now owns 36,983 shares of the company’s stock, valued at $1,630,580.47. The disclosure for this sale can be found here. Insiders have sold 35,600 shares of company stock valued at $1,432,286 over the last 90 days. 4.30% of the stock is currently owned by insiders.
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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