JPMorgan Chase & Co. trimmed its stake in Mercury Systems Inc (NASDAQ:MRCY) by 42.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 59,410 shares of the technology company’s stock after selling 43,196 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.13% of Mercury Systems worth $2,501,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of MRCY. Swiss National Bank lifted its stake in Mercury Systems by 16.7% in the first quarter. Swiss National Bank now owns 77,500 shares of the technology company’s stock valued at $3,026,000 after buying an additional 11,100 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Mercury Systems by 106.3% in the first quarter. UBS Asset Management Americas Inc. now owns 15,468 shares of the technology company’s stock valued at $604,000 after buying an additional 7,970 shares during the last quarter. Karp Capital Management Corp bought a new stake in Mercury Systems in the first quarter valued at $227,000. Ameritas Investment Partners Inc. bought a new stake in Mercury Systems in the first quarter valued at $153,000. Finally, Mason Street Advisors LLC lifted its stake in Mercury Systems by 25.1% in the first quarter. Mason Street Advisors LLC now owns 11,211 shares of the technology company’s stock valued at $438,000 after buying an additional 2,248 shares during the last quarter. Institutional investors own 96.43% of the company’s stock.
MRCY has been the topic of a number of recent research reports. Zacks Investment Research cut Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. BidaskClub upgraded Mercury Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 target price on shares of Mercury Systems in a research note on Friday, July 7th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $51.00 target price on shares of Mercury Systems in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Mercury Systems has an average rating of “Buy” and a consensus price target of $45.50.
Mercury Systems Inc (MRCY) opened at 52.00 on Friday. Mercury Systems Inc has a 12-month low of $22.31 and a 12-month high of $53.56. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 89.66 and a beta of 0.41. The company’s 50-day moving average price is $49.42 and its 200-day moving average price is $43.20.
Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $115.60 million for the quarter, compared to analyst estimates of $115.11 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. Equities analysts expect that Mercury Systems Inc will post $1.24 EPS for the current fiscal year.
In other news, VP Charles A. Speicher sold 7,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $44.09, for a total transaction of $308,630.00. Following the transaction, the vice president now owns 36,983 shares of the company’s stock, valued at $1,630,580.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $51.94, for a total value of $129,850.00. Following the transaction, the chief financial officer now directly owns 220,760 shares in the company, valued at approximately $11,466,274.40. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $1,120,368 in the last ninety days. 3.50% of the stock is currently owned by insiders.
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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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