Crow Point Partners LLC Purchases New Shares in Mercury Systems Inc (NASDAQ:MRCY)

Crow Point Partners LLC purchased a new stake in shares of Mercury Systems Inc (NASDAQ:MRCY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,673 shares of the technology company’s stock, valued at approximately $217,000.

A number of other institutional investors have also added to or reduced their stakes in MRCY. First Trust Advisors LP raised its stake in Mercury Systems by 15.1% during the first quarter. First Trust Advisors LP now owns 60,527 shares of the technology company’s stock valued at $3,879,000 after purchasing an additional 7,934 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Mercury Systems during the first quarter valued at $128,000. Neuberger Berman Group LLC raised its stake in Mercury Systems by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 459,244 shares of the technology company’s stock valued at $29,426,000 after purchasing an additional 5,035 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in Mercury Systems during the first quarter valued at $550,000. Finally, Empowered Funds LLC purchased a new stake in shares of Mercury Systems in the second quarter valued at $1,143,000. 95.03% of the stock is currently owned by institutional investors.

Shares of MRCY traded up $0.84 during midday trading on Wednesday, hitting $73.60. The stock had a trading volume of 428,288 shares, compared to its average volume of 501,590. Mercury Systems Inc has a 1 year low of $41.16 and a 1 year high of $89.44. The firm has a market cap of $4.64 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 3.75 and a beta of 1.08. The stock’s 50 day moving average is $82.30 and its 200 day moving average is $73.74.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.11. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The business had revenue of $176.96 million for the quarter, compared to the consensus estimate of $171.98 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts predict that Mercury Systems Inc will post 1.72 earnings per share for the current year.

Several brokerages have recently weighed in on MRCY. Goldman Sachs Group began coverage on shares of Mercury Systems in a research note on Friday, August 16th. They issued a “neutral” rating and a $75.00 target price on the stock. Zacks Investment Research raised shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America raised shares of Mercury Systems from an “underperform” rating to a “neutral” rating and increased their target price for the company from $50.00 to $85.00 in a research note on Friday, August 9th. BidaskClub raised shares of Mercury Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Finally, ValuEngine downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $73.50.

In other news, CFO Michael Ruppert sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $83.09, for a total value of $1,246,350.00. Following the transaction, the chief financial officer now directly owns 123,752 shares in the company, valued at $10,282,553.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Aslett sold 6,250 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $83.27, for a total transaction of $520,437.50. Following the completion of the transaction, the chief executive officer now owns 366,063 shares in the company, valued at $30,482,066.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,788 shares of company stock worth $6,231,167. Company insiders own 2.80% of the company’s stock.

Mercury Systems Company Profile

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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