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

Bank of New York Mellon Corp reduced its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 327,523 shares of the technology company’s stock after selling 26,432 shares during the quarter. Bank of New York Mellon Corp owned 0.55% of Mercury Systems worth $13,756,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Covestor Ltd grew its position in Mercury Systems by 41.2% during the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock worth $78,000 after acquiring an additional 620 shares during the last quarter. KBC Group NV raised its stake in shares of Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after acquiring an additional 825 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in Mercury Systems by 0.8% in the 3rd quarter. King Luther Capital Management Corp now owns 109,045 shares of the technology company’s stock worth $4,035,000 after buying an additional 868 shares during the period. FMR LLC boosted its holdings 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 acquiring an additional 974 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Mercury Systems by 15.4% in 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 in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Stock Performance

Shares of NASDAQ MRCY opened at $42.10 on Thursday. The company has a market cap of $2.51 billion, a P/E ratio of -26.99 and a beta of 0.80. Mercury Systems, Inc. has a 52-week low of $26.48 and a 52-week high of $52.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.36 and a current ratio of 3.62. The firm’s fifty day moving average is $43.40 and its two-hundred day moving average is $39.82.

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

Insider Transactions at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 2,342 shares of Mercury Systems stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $103,329.04. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total transaction of $26,251.40. Following the sale, the chief accounting officer now owns 14,572 shares in the company, valued at $642,916.64. This represents a 3.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,314 shares of company stock valued at $234,454 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MRCY. StockNews.com upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. The Goldman Sachs Group boosted their price target on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Truist Financial raised their price target on Mercury Systems from $35.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Baird R W upgraded Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and raised their price target for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and an average target price of $42.14.

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.