Select Equity Group L.P. Invests $799,000 in Mercury Systems Inc $MRCY

Select Equity Group L.P. acquired a new stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,551 shares of the technology company's stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in Mercury Systems in the 4th quarter valued at $33,000. GAMMA Investing LLC grew its holdings in shares of Mercury Systems by 59.6% during the 1st 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 grew its holdings in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock worth $56,000 after purchasing an additional 451 shares in the last quarter. Nkcfo LLC acquired a new stake in shares of Mercury Systems during the 1st quarter worth $72,000. Finally, US Bancorp DE grew its holdings in shares of Mercury Systems by 43.0% during the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock worth $107,000 after purchasing an additional 749 shares in the last quarter. 95.99% of the stock is owned by institutional investors and hedge funds.

Mercury Systems Price Performance

NASDAQ:MRCY traded down $0.84 during trading hours on Friday, hitting $72.24. The company's stock had a trading volume of 639,069 shares, compared to its average volume of 513,390. The stock has a fifty day simple moving average of $59.83 and a 200-day simple moving average of $51.89. The company has a market capitalization of $4.34 billion, a P/E ratio of -109.45, a PEG ratio of 3.04 and a beta of 0.77. 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 Inc has a twelve month low of $32.32 and a twelve month high of $74.00.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen raised Mercury Systems from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. increased their target price on Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. Raymond James Financial raised Mercury Systems from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th. The Goldman Sachs Group increased their target price on Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada increased their target price on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Insider Transactions at Mercury Systems

In other Mercury Systems news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $390,185,356.46. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the transaction, the chief executive officer owned 374,976 shares of the company's stock, valued at $24,170,952.96. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 850,752 shares of company stock valued at $55,622,679. 1.60% of the stock is currently owned by corporate 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.