State of Alaska Department of Revenue Raises Holdings in Mercury Systems Inc (NASDAQ:MRCY)

State of Alaska Department of Revenue grew its position in Mercury Systems Inc (NASDAQ:MRCY) by 15.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,842 shares of the technology company’s stock after purchasing an additional 2,511 shares during the quarter. State of Alaska Department of Revenue’s holdings in Mercury Systems were worth $1,325,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System lifted its stake in shares of Mercury Systems by 0.3% during the 1st quarter. Arizona State Retirement System now owns 74,755 shares of the technology company’s stock worth $4,790,000 after purchasing an additional 218 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Mercury Systems by 6.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 4,990 shares of the technology company’s stock worth $351,000 after purchasing an additional 320 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Mercury Systems by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,745 shares of the technology company’s stock worth $1,201,000 after purchasing an additional 339 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of Mercury Systems by 8.3% during the 2nd quarter. OLD National Bancorp IN now owns 6,157 shares of the technology company’s stock worth $433,000 after purchasing an additional 470 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its stake in shares of Mercury Systems by 3.5% during the 1st quarter. Mason Street Advisors LLC now owns 15,563 shares of the technology company’s stock worth $997,000 after purchasing an additional 532 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Canaccord Genuity restated a “buy” rating and set a $76.00 price objective (up from $64.00) on shares of Mercury Systems in a research note on Friday, April 26th. Alembic Global Advisors upgraded Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. BidaskClub cut Mercury Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research upgraded Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.25.

In other news, CEO Mark Aslett sold 10,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $68.10, for a total value of $681,000.00. Following the transaction, the chief executive officer now directly owns 342,440 shares of the company’s stock, valued at $23,320,164. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 30,000 shares of company stock worth $2,024,200 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Mercury Systems stock traded up $0.36 during midday trading on Tuesday, reaching $77.57. The company’s stock had a trading volume of 1,256 shares, compared to its average volume of 366,581. The stock’s 50-day simple moving average is $71.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.94 and a quick ratio of 4.54. Mercury Systems Inc has a 52-week low of $41.16 and a 52-week high of $82.98. The firm has a market capitalization of $4.32 billion, a PE ratio of 51.06, a P/E/G ratio of 4.05 and a beta of 1.09.

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

About Mercury Systems

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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