Pinebridge Investments L.P. boosted its stake in Mercury Systems Inc (NASDAQ:MRCY) by 162.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,648 shares of the technology company’s stock after purchasing an additional 9,678 shares during the period. Pinebridge Investments L.P.’s holdings in Mercury Systems were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of MRCY. Ameritas Investment Partners Inc. boosted its holdings in Mercury Systems by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after purchasing an additional 195 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Mercury Systems by 1.7% in the 2nd quarter. California Public Employees Retirement System now owns 46,900 shares of the technology company’s stock valued at $1,974,000 after purchasing an additional 800 shares in the last quarter. Advisor Group Inc. boosted its holdings in Mercury Systems by 97.8% in the 3rd quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock valued at $132,000 after purchasing an additional 1,264 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Mercury Systems by 6.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the technology company’s stock valued at $1,068,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Lisanti Capital Growth LLC boosted its holdings in Mercury Systems by 2.6% in the 4th quarter. Lisanti Capital Growth LLC now owns 52,860 shares of the technology company’s stock valued at $2,714,000 after purchasing an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 94.86% of the company’s stock.
In related news, CFO Gerald M. Haines II sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $51.62, for a total value of $129,050.00. Following the sale, the chief financial officer now owns 215,760 shares of the company’s stock, valued at approximately $11,137,531.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Didier M. C. Thibaud sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $51.62, for a total value of $180,670.00. Following the completion of the sale, the chief operating officer now directly owns 376,440 shares in the company, valued at approximately $19,431,832.80. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $2,997,915 in the last three months. Corporate insiders own 3.50% of the company’s stock.
Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, January 23rd. The technology company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $114.89 million. Mercury Systems had a return on equity of 6.32% and a net margin of 9.61%. Mercury Systems’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. analysts anticipate that Mercury Systems Inc will post 1.09 earnings per share for the current year.
MRCY has been the topic of a number of analyst reports. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, December 27th. Bank of America lowered their price objective on Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. SunTrust Banks reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Mercury Systems in a report on Tuesday, January 9th. BidaskClub lowered Mercury Systems from a “sell” rating to a “strong sell” rating in a report on Friday, January 19th. Finally, Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $54.71.
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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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