Hillsdale Investment Management Inc. Buys 3,000 Shares of Mercury Systems Inc (NASDAQ:MRCY)

Hillsdale Investment Management Inc. raised its stake in Mercury Systems Inc (NASDAQ:MRCY) by 30.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,900 shares of the technology company’s stock after buying an additional 3,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Mercury Systems were worth $908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in Mercury Systems in the first quarter valued at approximately $44,000. Advisors Preferred LLC acquired a new position in Mercury Systems during the first quarter worth $106,000. NumerixS Investment Technologies Inc acquired a new position in Mercury Systems during the first quarter worth $128,000. NEXT Financial Group Inc acquired a new position in Mercury Systems during the second quarter worth $170,000. Finally, Meitav Dash Investments Ltd. acquired a new position in Mercury Systems during the first quarter worth $203,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

MRCY has been the topic of a number of recent analyst reports. Canaccord Genuity restated a “buy” rating and set a $76.00 target price (up from $64.00) on shares of Mercury Systems in a report on Friday, April 26th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 1st. Bank of America upgraded shares of Mercury Systems from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $85.00 in a report on Friday, August 9th. Goldman Sachs Group initiated coverage on shares of Mercury Systems in a report on Friday. They set a “neutral” rating and a $75.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $73.50.

In related news, insider Mark Aslett sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $68.42, for a total value of $684,200.00. Following the sale, the insider now directly owns 327,440 shares of the company’s stock, valued at $22,403,444.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 30,000 shares of company stock worth $2,024,200 over the last three months. Insiders own 2.80% of the company’s stock.

Shares of NASDAQ:MRCY traded up $1.01 on Friday, hitting $83.85. The company had a trading volume of 346,100 shares, compared to its average volume of 397,681. Mercury Systems Inc has a 1-year low of $41.16 and a 1-year high of $84.01. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 55.16, a P/E/G ratio of 4.14 and a beta of 1.09. The stock has a 50 day moving average price of $74.24 and a 200 day moving average price of $68.50. The company has a current ratio of 5.94, a quick ratio of 4.54 and a debt-to-equity ratio of 0.34.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.47 EPS 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 firm had revenue of $176.96 million for the quarter, compared to the consensus estimate of $171.98 million. During the same period in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that Mercury Systems Inc will post 1.72 earnings per share for the current fiscal 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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