Granite Investment Partners buys $14,756,170 stake in Mercury Systems Inc (MRCY)

Mercury Systems Inc (MRCY) : Granite Investment Partners scooped up 116,515 additional shares in Mercury Systems Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 626,323 shares of Mercury Systems Inc which is valued at $14,756,170.Mercury Systems Inc makes up approximately 1.12% of Granite Investment Partners’s portfolio.

Other Hedge Funds, Including , Guggenheim Capital reduced its stake in MRCY by selling 2,922 shares or 4.79% in the most recent quarter. The Hedge Fund company now holds 58,128 shares of MRCY which is valued at $1,369,496. Bronfman E.l. Rothschild sold out all of its stake in MRCY during the most recent quarter. The investment firm sold 220 shares of MRCY which is valued $5,183.Neuberger Berman Group reduced its stake in MRCY by selling 2,427 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 1,691,322 shares of MRCY which is valued at $39,255,584. Mercury Systems Inc makes up approx 0.05% of Neuberger Berman Group’s portfolio.Boston Partners reduced its stake in MRCY by selling 95,760 shares or 36.96% in the most recent quarter. The Hedge Fund company now holds 163,340 shares of MRCY which is valued at $3,791,121. Mercury Systems Inc makes up approx 0.01% of Boston Partners’s portfolio.Ls Investment Advisors boosted its stake in MRCY in the latest quarter, The investment management firm added 396 additional shares and now holds a total of 1,504 shares of Mercury Systems Inc which is valued at $38,668.

Mercury Systems Inc opened for trading at $22.74 and hit $22.8 on the upside on Thursday, eventually ending the session at $22.72, with a gain of 0.18% or 0.04 points. The heightened volatility saw the trading volume jump to 1,65,792 shares. Company has a market cap of $917 M.

On the company’s financial health, Mercury Systems Inc reported $0.23 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.23. The company had revenue of $68.80 million for the quarter, compared to analysts expectations of $67.52 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Mercury Systems Inc. Citigroup Initiated Mercury Systems Inc on Jun 10, 2016 to “Buy”, Price Target of the shares are set at $27.

Mercury Systems Inc. is a commercial provider of secure and sensor processing subsystems. The Company has two segments: Mercury Commercial Electronics (MCE) and Mercury Defense Systems (MDS). The Company’s MCE segment offers technologies which include embedded processing modules and subsystems radio frequency (RF) and microwave multi-function assemblies as well as subsystems and RF and microwave components. MDS provides capabilities relating to pre-integrated electronic attack (EA) and electronic counter measure subsystems signals intelligence and electro-optical/infrared processing technologies and radar environment test and simulation systems. The Company’s products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors. Its programs include Aegis Patriot Surface Electronic Warfare Improvement Program (SEWIP) Gorgon Stare Predator F-35 and Reaper.

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