Sterling Capital Management LLC Sells 14,129 Shares of Mercury Systems Inc $MRCY

Key Points

• Sterling Capital Management cut its Mercury Systems stake by 88.4%, selling 14,129 shares and retaining 1,861 shares valued at approximately $154,000. Institutional investors collectively own 95.99% of the company.
• Mercury Systems reported quarterly revenue of $289.78 million, up 6.1% year over year, but earnings of $0.37 per share fell short of estimates and the company posted a negative net margin.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $107.18 versus the stock’s reported price of $77.54; insiders sold $41.9 million worth of shares over the past 90 days.

Sterling Capital Management LLC decreased its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 88.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,861 shares of the technology company's stock after selling 14,129 shares during the quarter. Sterling Capital Management LLC's holdings in Mercury Systems were worth $154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Mercury Systems in the second quarter valued at $1,146,342,000. Deutsche Bank AG bought a new stake in shares of Mercury Systems during the 2nd quarter valued at $17,454,000. Rice Hall James & Associates LLC bought a new stake in shares of Mercury Systems during the 2nd quarter valued at $4,866,000. Manatuck Hill Partners LLC bought a new stake in shares of Mercury Systems during the 2nd quarter valued at $2,251,000. Finally, American Capital Management Inc. bought a new stake in shares of Mercury Systems during the 2nd quarter valued at $59,460,000. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Performance

Shares of MRCY opened at $77.54 on Monday. Mercury Systems Inc has a 1-year low of $65.04 and a 1-year high of $128.45. The company has a market capitalization of $4.72 billion, a P/E ratio of -155.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The firm's 50 day simple moving average is $81.97 and its 200 day simple moving average is $91.83.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analysts' expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%. Mercury Systems's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. Sell-side analysts forecast that Mercury Systems Inc will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several analyst reports. Wall Street Zen downgraded Mercury Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 18th. Oppenheimer assumed coverage on Mercury Systems in a research report on Thursday, October 22nd. They set an "outperform" rating and a $90.00 price target on the stock. Guggenheim started coverage on Mercury Systems in a research report on Monday, September 14th. They set a "buy" rating and a $115.00 price target on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $115.00 price target on shares of Mercury Systems in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.18.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Steven Ratner sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total transaction of $338,040.00. Following the sale, the executive vice president owned 19,275 shares in the company, valued at $1,628,930.25. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stuart Kupinsky sold 1,000 shares of Mercury Systems stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $76.00, for a total value of $76,000.00. Following the sale, the executive vice president directly owned 59,971 shares of the company's stock, valued at approximately $4,557,796. This trade represents a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 452,186 shares of company stock valued at $41,933,170. Insiders own 0.99% of the company's stock.

Mercury Systems Company Profile

Mercury Systems, Inc is an aerospace and defense technology company that develops and manufactures mission-critical computing and electronic systems. Its products are designed for use in aircraft, unmanned systems, naval vessels, ground vehicles, radar platforms and other defense applications.

The company provides embedded computing solutions, including high-performance processors, ruggedized computers, secure servers, data-storage systems and software. Its portfolio also includes radio-frequency and microwave components, electronic warfare systems, signal processing technologies and systems used for radar, communications, avionics and intelligence, surveillance and reconnaissance missions.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury Systems primarily serves the U.S.

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