Mercury Systems Inc $MRCY Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in Mercury Systems Inc (NASDAQ:MRCY) by 52.4% in the fourth quarter, HoldingsChannel reports. The fund owned 8,462 shares of the technology company’s stock after selling 9,307 shares during the period. M&T Bank Corp’s holdings in Mercury Systems were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Mercury Systems by 5.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,307 shares of the technology company’s stock valued at $1,191,000 after acquiring an additional 775 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Mercury Systems by 89.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,187 shares of the technology company’s stock valued at $1,547,000 after acquiring an additional 10,015 shares during the period. CWM LLC lifted its holdings in Mercury Systems by 4.9% in the fourth quarter. CWM LLC now owns 8,039 shares of the technology company’s stock valued at $587,000 after acquiring an additional 379 shares during the period. State of Alaska Department of Revenue lifted its holdings in Mercury Systems by 27.8% in the fourth quarter. State of Alaska Department of Revenue now owns 38,442 shares of the technology company’s stock valued at $2,805,000 after acquiring an additional 8,365 shares during the period. Finally, Signaturefd LLC lifted its holdings in Mercury Systems by 15.4% in the fourth quarter. Signaturefd LLC now owns 804 shares of the technology company’s stock valued at $59,000 after acquiring an additional 107 shares during the period. 95.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mercury Systems

In related news, CAO Douglas Munro sold 582 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total value of $48,631.92. Following the completion of the transaction, the chief accounting officer directly owned 14,328 shares of the company’s stock, valued at approximately $1,197,247.68. This represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David E. Farnsworth sold 3,625 shares of the stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total value of $307,653.75. Following the completion of the transaction, the executive vice president directly owned 157,701 shares of the company’s stock, valued at approximately $13,384,083.87. This represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 863,383 shares of company stock worth $74,789,584 in the last quarter. 1.40% of the stock is owned by insiders.

Mercury Systems Trading Down 0.5%

Shares of MRCY stock opened at $78.55 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -148.21, a PEG ratio of 7.64 and a beta of 0.84. The stock has a 50 day simple moving average of $81.25 and a 200-day simple moving average of $80.37. Mercury Systems Inc has a 1-year low of $44.01 and a 1-year high of $103.84.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The business had revenue of $232.87 million during the quarter, compared to the consensus estimate of $209.96 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Mercury Systems Inc will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on Mercury Systems from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group upped their target price on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.33.

About Mercury Systems

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.