Morgan Stanley Decreases Stake in Mercury Systems Inc (NASDAQ:MRCY)
Morgan Stanley reduced its stake in Mercury Systems Inc (NASDAQ:MRCY) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,795 shares of the technology company’s stock after selling 27,615 shares during the period. Morgan Stanley’s holdings in Mercury Systems were worth $4,599,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P bought a new position in shares of Mercury Systems during the first quarter valued at about $16,342,000. Texas Permanent School Fund raised its position in shares of Mercury Systems by 16.0% in the first quarter. Texas Permanent School Fund now owns 34,712 shares of the technology company’s stock valued at $1,356,000 after buying an additional 4,797 shares during the period. Advisory Services Network LLC bought a new position in shares of Mercury Systems during the first quarter valued at about $346,000. Greenwood Capital Associates LLC raised its position in shares of Mercury Systems by 2.3% in the first quarter. Greenwood Capital Associates LLC now owns 17,750 shares of the technology company’s stock valued at $693,000 after buying an additional 394 shares during the period. Finally, FMR LLC raised its position in shares of Mercury Systems by 116.3% in the first quarter. FMR LLC now owns 351,093 shares of the technology company’s stock valued at $13,710,000 after buying an additional 188,800 shares during the period. Institutional investors own 98.66% of the company’s stock.
Shares of Mercury Systems Inc (NASDAQ MRCY) traded up 1.03% on Friday, reaching $46.15. 54,801 shares of the company traded hands. Mercury Systems Inc has a 1-year low of $21.52 and a 1-year high of $46.29. The stock has a 50-day moving average price of $43.36 and a 200 day moving average price of $39.38. The firm has a market capitalization of $2.13 billion, a P/E ratio of 79.57 and a beta of 0.39.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The company had revenue of $115.60 million for the quarter, compared to the consensus estimate of $115.11 million. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. Mercury Systems’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Analysts anticipate that Mercury Systems Inc will post $1.24 EPS for the current fiscal year.
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MRCY has been the subject of several research reports. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research report on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 target price on shares of Mercury Systems in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, June 22nd. Finally, BidaskClub upgraded shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.00.
In other Mercury Systems news, VP Charles A. Speicher sold 7,000 shares of Mercury Systems stock in a transaction on Monday, August 7th. The shares were sold at an average price of $44.09, for a total value of $308,630.00. Following the sale, the vice president now directly owns 36,983 shares in the company, valued at approximately $1,630,580.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Aslett sold 9,400 shares of Mercury Systems stock in a transaction on Wednesday, June 14th. The shares were 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 owns 538,249 shares in the company, valued at $20,474,991.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,600 shares of company stock worth $1,432,286. 4.30% of the stock is currently owned by insiders.
About Mercury Systems
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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