Mercury Systems Inc (NASDAQ:MRCY) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,013 shares of the technology company’s stock after selling 15,510 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.52% of Mercury Systems worth $13,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC increased its position in shares of Mercury Systems by 4.0% during the fourth quarter. Corient Private Wealth LLC now owns 6,858 shares of the technology company’s stock worth $288,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Mercury Systems by 53.8% in the first quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after acquiring an additional 451 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Mercury Systems by 8.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company’s stock worth $288,000 after buying an additional 517 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Mercury Systems by 5.0% in the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company’s stock valued at $461,000 after acquiring an additional 519 shares during the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the sale, the director owned 6,861,313 shares in the company, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of Mercury Systems stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total value of $185,648.40. Following the sale, the executive vice president owned 56,187 shares in the company, valued at $2,680,119.90. The trade was a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,883 shares of company stock worth $4,362,791 over the last ninety days. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MRCY shares. The Goldman Sachs Group increased their price target on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Truist Financial upped their target price on Mercury Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Mercury Systems from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.29.

Mercury Systems Trading Down 1.0%

Shares of MRCY stock opened at $51.69 on Friday. The stock has a market cap of $3.09 billion, a P/E ratio of -46.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. Mercury Systems Inc has a 1 year low of $31.66 and a 1 year high of $54.32. The company has a current ratio of 3.44, a quick ratio of 2.25 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $50.25 and a 200 day simple moving average of $46.75.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $211.36 million for the quarter, compared to analysts’ expectations of $204.25 million. Mercury Systems had a negative net margin of 7.33% and a negative return on equity of 0.77%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. On average, research analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Mercury Systems Company 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.