Comerica Bank Buys 70,233 Shares of Mercury Systems Inc $MRCY

Key Points

• Comerica Bank increased its stake in Mercury Systems by 31.7%, buying 70,233 shares to own 292,098 shares worth $21,326,000 after the quarter.
• Mercury beat quarterly estimates with EPS of $0.16 (vs. $0.07 expected) and revenue of $232.87M (vs. $209.96M), but the company still shows a negative net margin and a negative P/E, while analysts are mixed with a consensus "Hold" rating and a $86.33 price target.
• Despite 95.99% institutional ownership, insiders have been net sellers recently — 863,383 shares were sold in the last three months valued at about $74.8M, including a 100,899-share sale by Jana Partners.

Comerica Bank raised its stake in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 292,098 shares of the technology company's stock after purchasing an additional 70,233 shares during the quarter. Comerica Bank owned 0.49% of Mercury Systems worth $21,326,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MRCY. Salomon & Ludwin LLC bought a new position in shares of Mercury Systems during the 3rd quarter worth about $32,000. Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% during the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company's stock worth $32,000 after purchasing an additional 208 shares during the period. Federated Hermes Inc. bought a new position in shares of Mercury Systems during the 2nd quarter worth about $43,000. AlphaQuest LLC increased its holdings in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company's stock worth $44,000 after purchasing an additional 168 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after purchasing an additional 234 shares during the period. Institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Performance

NASDAQ MRCY opened at $77.14 on Tuesday. The stock has a market cap of $4.63 billion, a P/E ratio of -145.55, a PEG ratio of 7.55 and a beta of 0.84. The company's 50-day simple moving average is $81.84 and its 200 day simple moving average is $80.40. Mercury Systems Inc has a twelve month low of $44.01 and a twelve month high of $103.84. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $232.87 million for the quarter, compared to analysts' expectations of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. As a group, research analysts forecast that Mercury Systems Inc will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MRCY shares. Truist Financial upped their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Jefferies Financial Group lowered their target price on shares of Mercury Systems from $85.00 to $80.00 and set a "hold" rating on the stock in a research note on Tuesday, April 7th. Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reissued 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 shares of Mercury Systems from $49.00 to $55.00 and gave the company a "sell" rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Mercury Systems presently has an average rating of "Hold" and a consensus price target of $86.33.

Insider Activity

In other Mercury Systems news, Director Jana Partners Management, Lp sold 100,899 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the sale, the director directly owned 4,114,618 shares of the company's stock, valued at approximately $368,998,942.24. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stuart Kupinsky sold 2,287 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $83.56, for a total transaction of $191,101.72. Following the sale, the executive vice president directly owned 68,010 shares in the company, valued at $5,682,915.60. This represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 863,383 shares of company stock valued at $74,789,584. Corporate insiders own 1.40% of the company's stock.

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.

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