Bank of America Corp DE Sells 239,538 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Bank of America Corp DE lessened its stake in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,385 shares of the technology company's stock after selling 239,538 shares during the period. Bank of America Corp DE owned about 0.47% of Mercury Systems worth $11,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Corient Private Wealth LLC increased its holdings in Mercury Systems by 4.0% during the 4th quarter. Corient Private Wealth LLC now owns 6,858 shares of the technology company's stock valued at $288,000 after purchasing an additional 266 shares during the period. Ironwood Investment Management LLC increased its holdings in Mercury Systems by 0.7% during the 4th quarter. Ironwood Investment Management LLC now owns 40,994 shares of the technology company's stock valued at $1,722,000 after purchasing an additional 300 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Mercury Systems by 8.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,867 shares of the technology company's stock valued at $288,000 after purchasing an additional 517 shares during the period. Bank of Montreal Can increased its holdings in Mercury Systems by 5.0% during the 4th quarter. Bank of Montreal Can now owns 10,984 shares of the technology company's stock valued at $461,000 after purchasing an additional 519 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in Mercury Systems by 9.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 6,641 shares of the technology company's stock valued at $279,000 after purchasing an additional 555 shares during the period. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Up 0.0%

MRCY stock opened at $46.91 on Friday. Mercury Systems, Inc. has a fifty-two week low of $26.48 and a fifty-two week high of $52.25. The business's 50 day moving average price is $46.58 and its two-hundred day moving average price is $43.63. 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 company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -30.07 and a beta of 0.70.

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

Analyst Ratings Changes

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

Insider Buying and Selling

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 sale, the director now owns 6,861,313 shares in the company, valued at $317,472,952.51. This represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Steven Ratner sold 3,892 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $47.70, for a total value of $185,648.40. Following the completion of the sale, the executive vice president now owns 56,187 shares in the company, valued at $2,680,119.90. The trade was a 6.48% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Mercury Systems 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.

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