Mercury Systems Inc $MRCY Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,232 shares of the technology company’s stock after purchasing an additional 2,123 shares during the quarter. State of Alaska Department of Revenue owned 0.05% of Mercury Systems worth $1,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Mercury Systems by 59.6% during the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after purchasing an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock worth $56,000 after acquiring an additional 451 shares in the last quarter. Nkcfo LLC acquired a new position in shares of Mercury Systems in the first quarter worth about $72,000. US Bancorp DE lifted its stake in shares of Mercury Systems by 43.0% in the first quarter. US Bancorp DE now owns 2,489 shares of the technology company’s stock worth $107,000 after acquiring an additional 749 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mercury Systems in the second quarter worth about $213,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen upgraded Mercury Systems from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Canaccord Genuity Group assumed coverage on Mercury Systems in a research note on Thursday. They issued a “buy” rating and a $88.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Saturday, September 27th. The Goldman Sachs Group boosted their price target on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a research note on Wednesday, August 13th. Finally, Robert W. Baird boosted their price target on Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.67.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $83.50 on Friday. Mercury Systems Inc has a 12-month low of $32.32 and a 12-month high of $85.26. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -126.51, a price-to-earnings-growth ratio of 3.43 and a beta of 0.82. The business has a 50 day simple moving average of $67.30 and a 200 day simple moving average of $55.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.26. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The business had revenue of $273.11 million during the quarter, compared to analyst estimates of $244.56 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly owned 5,964,313 shares of the company’s stock, valued at $390,185,356.46. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven Ratner sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $63.76, for a total value of $446,320.00. Following the completion of the sale, the executive vice president owned 33,801 shares of the company’s stock, valued at $2,155,151.76. This trade represents a 17.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 848,980 shares of company stock worth $55,529,247. 1.40% of the stock is owned by company insiders.

Mercury Systems Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.