Bank of New York Mellon Corp Has $16.85 Million Stake in Mercury Systems Inc $MRCY

Bank of New York Mellon Corp raised its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 312,822 shares of the technology company’s stock after buying an additional 809 shares during the period. Bank of New York Mellon Corp owned 0.52% of Mercury Systems worth $16,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRCY. Quaker Wealth Management LLC grew its holdings in shares of Mercury Systems by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after acquiring an additional 1,288 shares in the last quarter. GAMMA Investing LLC boosted its position in Mercury Systems by 25.0% during the second quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company’s stock valued at $71,000 after purchasing an additional 264 shares during the last quarter. Nkcfo LLC bought a new position in Mercury Systems in the first quarter valued at approximately $72,000. Hilltop National Bank acquired a new position in shares of Mercury Systems during the 2nd quarter worth approximately $110,000. Finally, US Bancorp DE raised its stake 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.

Insider Activity at Mercury Systems

In related news, CEO William L. Ballhaus sold 13,050 shares of Mercury Systems stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $64.46, for a total transaction of $841,203.00. Following the completion of the sale, the chief executive officer directly owned 374,976 shares of the company’s stock, valued at approximately $24,170,952.96. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jana Partners Management, Lp sold 1,000,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total value of $75,450,000.00. Following the completion of the transaction, the director directly owned 4,966,675 shares in the company, valued at approximately $374,735,628.75. This represents a 16.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,034,049 shares of company stock valued at $77,668,606 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Truist Financial lifted their price objective on shares of Mercury Systems from $71.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. UBS Group set a $88.00 target price on shares of Mercury Systems in a report on Thursday, October 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Mercury Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $70.85 on Monday. The stock has a market cap of $4.26 billion, a PE ratio of -107.35, a P/E/G ratio of 3.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The firm has a 50-day moving average of $76.31 and a 200-day moving average of $61.93. Mercury Systems Inc has a 52-week low of $37.28 and a 52-week high of $85.33.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. The firm had revenue of $256.86 million for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. On average, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current 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.