Bank of New York Mellon Corp Reduces Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Bank of New York Mellon Corp lowered its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 327,523 shares of the technology company's stock after selling 26,432 shares during the period. Bank of New York Mellon Corp owned approximately 0.55% of Mercury Systems worth $13,756,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Covestor Ltd increased its position in shares of Mercury Systems by 41.2% during the third quarter. Covestor Ltd now owns 2,124 shares of the technology company's stock worth $78,000 after purchasing an additional 620 shares in the last quarter. KBC Group NV grew its stake in Mercury Systems by 49.4% during the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company's stock worth $105,000 after buying an additional 825 shares during the last quarter. King Luther Capital Management Corp increased its position in Mercury Systems by 0.8% during the 3rd quarter. King Luther Capital Management Corp now owns 109,045 shares of the technology company's stock valued at $4,035,000 after buying an additional 868 shares in the last quarter. FMR LLC raised its stake in Mercury Systems by 46.5% in the third quarter. FMR LLC now owns 3,067 shares of the technology company's stock valued at $113,000 after buying an additional 974 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Mercury Systems by 15.4% during the 3rd quarter. Quantinno Capital Management LP now owns 11,096 shares of the technology company's stock worth $411,000 after purchasing an additional 1,478 shares during the last quarter. Institutional investors own 95.99% of the company's stock.

Remove Ads

Mercury Systems Stock Performance

Mercury Systems stock traded up $2.98 on Thursday, reaching $45.08. 800,429 shares of the stock were exchanged, compared to its average volume of 534,878. Mercury Systems, Inc. has a twelve month low of $26.48 and a twelve month high of $52.25. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.69 billion, a PE ratio of -28.90 and a beta of 0.80. The firm has a fifty day moving average price of $43.40 and a two-hundred day moving average price of $39.82.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Sell-side analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Insider Activity

In other Mercury Systems news, CAO Douglas Munro sold 595 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the transaction, the chief accounting officer now directly owns 14,572 shares of the company's stock, valued at $642,916.64. The trade was a 3.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles Roger Iv Wells sold 2,342 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $103,329.04. Following the transaction, the chief operating officer now directly owns 95,928 shares of the company's stock, valued at $4,232,343.36. This trade represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,314 shares of company stock worth $234,454 in the last quarter. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $25.00 to $28.00 and gave the company a "sell" rating in a research note on Thursday, January 16th. StockNews.com upgraded Mercury Systems from a "sell" rating to a "hold" rating in a report on Thursday, December 5th. Robert W. Baird raised shares of Mercury Systems from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Truist Financial raised Mercury Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $49.00 to $56.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Mercury Systems presently has an average rating of "Hold" and a consensus target price of $43.86.

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.