Mercury Systems, Inc. (NASDAQ:MRCY) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 279,385 shares of the technology company's stock after selling 239,538 shares during the quarter. Bank of America Corp DE owned 0.47% of Mercury Systems worth $11,734,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Mercury Systems by 471.3% in the third quarter. Barclays PLC now owns 175,562 shares of the technology company's stock valued at $6,496,000 after purchasing an additional 144,831 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Mercury Systems by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 46,220 shares of the technology company's stock worth $1,710,000 after buying an additional 1,731 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Mercury Systems by 52.5% in the fourth 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 in the last quarter. KBC Group NV raised its holdings in shares of 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 buying an additional 825 shares during the period. Finally, Conestoga Capital Advisors LLC raised its holdings 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 buying an additional 743,552 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Mercury Systems Stock Down 1.1%

NASDAQ:MRCY traded down $0.56 during mid-day trading on Wednesday, hitting $48.55. The stock had a trading volume of 24,604 shares, compared to its average volume of 577,826. Mercury Systems, Inc. has a twelve month low of $26.48 and a twelve month high of $52.25. The stock has a 50-day simple moving average of $46.68 and a two-hundred day simple moving average of $43.81. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $2.90 billion, a PE ratio of -31.19 and a beta of 0.70.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The company had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The company's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.26) EPS. On average, equities research analysts anticipate that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of research analyst reports. Truist Financial upgraded Mercury Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $49.00 to $56.00 in a report on Thursday, March 13th. The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $30.00 to $33.00 and gave the company a "sell" rating in a research note on Monday, May 12th. Royal Bank of Canada upped their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Robert W. Baird upgraded shares of Mercury Systems from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $37.00 to $58.00 in a report on Wednesday, February 5th. Finally, Baird R W raised shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mercury Systems currently has an average rating of "Hold" and an average price target of $46.71.

Insider Buying and Selling at Mercury Systems

In related news, Director Jana Partners Management, Lp sold 88,152 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the completion of the transaction, the director now directly owns 6,861,313 shares of the company's stock, valued at $317,472,952.51. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the completion of the transaction, the executive vice president now owns 56,187 shares in the company, valued at $2,680,119.90. This represents a 6.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by 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.