Mercury Systems, Inc. (NASDAQ:MRCY) Shares Purchased by Comerica Bank

Comerica Bank boosted its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 46.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 182,232 shares of the technology company’s stock after purchasing an additional 57,797 shares during the quarter. Comerica Bank’s holdings in Mercury Systems were worth $7,654,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its position in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock valued at $69,000 after acquiring an additional 1,449 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mercury Systems during the fourth quarter worth about $75,000. KBC Group NV boosted its holdings in Mercury Systems by 49.4% in the 4th quarter. KBC Group NV now owns 2,496 shares of the technology company’s stock valued at $105,000 after purchasing an additional 825 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Mercury Systems by 52.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,502 shares of the technology company’s stock valued at $189,000 after buying an additional 1,549 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in shares of Mercury Systems during the 4th quarter worth approximately $204,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 2,377 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total transaction of $104,873.24. Following the sale, the executive vice president now owns 62,834 shares in the company, valued at $2,772,236.08. This represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Charles Roger Iv Wells sold 2,342 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 95,928 shares in the company, valued at $4,232,343.36. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is currently owned by company insiders.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $51.46 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.62 and a quick ratio of 2.36. The company has a market cap of $3.07 billion, a P/E ratio of -32.99 and a beta of 0.69. The stock has a 50-day moving average of $45.67 and a two-hundred day moving average of $42.38. Mercury Systems, Inc. has a 1-year low of $26.48 and a 1-year high of $52.25.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded Mercury Systems from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Truist Financial raised shares of Mercury Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $56.00 in a research note on Thursday, March 13th. 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 given a strong buy rating to the stock. According to MarketBeat, Mercury Systems presently has an average rating of “Hold” and an average target price of $43.86.

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.