Comerica Bank Has $7.65 Million Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

Comerica Bank grew its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 46.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,232 shares of the technology company's stock after acquiring an additional 57,797 shares during the quarter. Comerica Bank owned about 0.31% of Mercury Systems worth $7,654,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Mercury Systems by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,550,610 shares of the technology company's stock valued at $233,126,000 after buying an additional 41,324 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Mercury Systems by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,202,124 shares of the technology company's stock valued at $92,490,000 after purchasing an additional 52,725 shares during the period. Conestoga Capital Advisors LLC grew its stake in shares of Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company's stock valued at $87,058,000 after purchasing an additional 743,552 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company's stock worth $86,526,000 after acquiring an additional 294,747 shares during the period. Finally, First Trust Advisors LP increased its position in Mercury Systems by 50.8% during the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company's stock worth $41,535,000 after purchasing an additional 333,109 shares during the period. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird raised Mercury Systems from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Truist Financial upgraded Mercury Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $49.00 to $56.00 in a research note on Thursday, March 13th. Royal Bank of Canada upped their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the company a "sector perform" rating in a research note on Wednesday. Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the company a "sell" rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.00.

Mercury Systems Price Performance

Shares of Mercury Systems stock traded down $2.46 during trading on Wednesday, hitting $47.95. 963,217 shares of the company's stock traded hands, compared to its average volume of 582,339. 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 $2.86 billion, a PE ratio of -30.74 and a beta of 0.70. Mercury Systems, Inc. has a twelve month low of $26.48 and a twelve month high of $52.25. The firm's fifty day moving average price is $45.98 and its 200 day moving average price is $42.61.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $211.36 million during the quarter, compared to analysts' expectations of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. Mercury Systems's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.26) EPS. Analysts forecast that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Insider Activity

In other Mercury Systems news, 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 transaction, the chief operating officer now directly owns 95,928 shares of the company's stock, valued at $4,232,343.36. This represents a 2.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Douglas Munro sold 595 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 14,572 shares of the company's stock, valued at $642,916.64. This represents a 3.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,314 shares of company stock worth $234,454 over the last quarter. 1.60% of the stock is currently owned by company insiders.

About Mercury Systems

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.