BBVA USA Bancshares Inc. Makes New $739,000 Investment in Mercury Systems Inc (NASDAQ:MRCY)

BBVA USA Bancshares Inc. bought a new position in shares of Mercury Systems Inc (NASDAQ:MRCY) during the third quarter, Holdings Channel reports. The fund bought 9,100 shares of the technology company’s stock, valued at approximately $739,000.

A number of other hedge funds have also recently modified their holdings of the business. LS Investment Advisors LLC raised its stake in Mercury Systems by 10.1% during the second quarter. LS Investment Advisors LLC now owns 1,595 shares of the technology company’s stock worth $112,000 after purchasing an additional 146 shares during the period. Texas Permanent School Fund raised its stake in Mercury Systems by 0.5% during the third quarter. Texas Permanent School Fund now owns 37,753 shares of the technology company’s stock worth $3,064,000 after purchasing an additional 189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Mercury Systems by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,505 shares of the technology company’s stock worth $285,000 after purchasing an additional 240 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Mercury Systems by 1.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 21,706 shares of the technology company’s stock worth $1,527,000 after purchasing an additional 241 shares during the period. Finally, Profund Advisors LLC raised its stake in Mercury Systems by 5.2% during the second quarter. Profund Advisors LLC now owns 5,049 shares of the technology company’s stock worth $355,000 after purchasing an additional 248 shares during the period. 95.07% of the stock is currently owned by institutional investors.

Mercury Systems stock opened at $72.53 on Friday. The company’s 50 day simple moving average is $74.25 and its 200-day simple moving average is $74.96. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. Mercury Systems Inc has a 1 year low of $41.16 and a 1 year high of $89.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.77 and a current ratio of 5.35.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $177.30 million for the quarter, compared to the consensus estimate of $168.36 million. Mercury Systems had a net margin of 8.51% and a return on equity of 7.59%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Equities analysts expect that Mercury Systems Inc will post 1.76 earnings per share for the current year.

A number of equities analysts have commented on MRCY shares. BidaskClub downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Goldman Sachs Group began coverage on shares of Mercury Systems in a research note on Friday, August 16th. They set 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 boosted their price target for the company from $50.00 to $85.00 in a research note on Friday, August 9th. Finally, ValuEngine downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $73.50.

In related news, CAO Michelle M. Mccarthy sold 624 shares of Mercury Systems stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.99, for a total value of $53,033.76. Following the completion of the transaction, the chief accounting officer now owns 10,982 shares in the company, valued at $933,360.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Ruppert sold 15,000 shares of Mercury Systems stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $83.09, for a total transaction of $1,246,350.00. Following the completion of the transaction, the chief financial officer now owns 123,752 shares of the company’s stock, valued at approximately $10,282,553.68. The disclosure for this sale can be found here. Insiders sold a total of 83,538 shares of company stock worth $6,947,664 over the last three months. Insiders own 2.10% 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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