Mercury Systems Inc $MRCY Shares Bought by Comerica Bank

Key Points

• Comerica Bank increased its stake in Mercury Systems Inc by 19.8% during Q1, owning 218,362 shares worth approximately $9.41 million.
• Mercury Systems' stock opened at $67.64, and the company reported a 9.9% year-over-year revenue increase with a Q2 EPS of $0.47, surpassing estimates.
• Institutional investors own 95.99% of Mercury Systems, with multiple hedge funds recently adjusting their positions in the company's stock.

Comerica Bank grew its holdings in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 19.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,362 shares of the technology company's stock after purchasing an additional 36,130 shares during the period. Comerica Bank owned about 0.37% of Mercury Systems worth $9,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Mercury Systems by 11.8% in the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company's stock worth $11,848,000 after purchasing an additional 29,074 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Mercury Systems in the fourth quarter worth $241,000. Calamos Advisors LLC purchased a new stake in Mercury Systems in the first quarter worth $848,000. GAMMA Investing LLC increased its stake in Mercury Systems by 6,776.2% in the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after purchasing an additional 44,926 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new stake in Mercury Systems in the first quarter worth $2,562,000. Hedge funds and other institutional investors own 95.99% of the company's stock.

Mercury Systems Stock Down 1.4%

Shares of Mercury Systems stock traded down $0.95 during trading on Monday, reaching $67.55. The company's stock had a trading volume of 305,785 shares, compared to its average volume of 804,469. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $56.55 and a two-hundred day simple moving average of $50.30. Mercury Systems Inc has a 1-year low of $32.32 and a 1-year high of $69.95. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -102.35, a P/E/G ratio of 2.78 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Monday, August 11th. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.26. The company had revenue of $273.11 million during the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, equities analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their target price on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 3rd. Raymond James Financial upgraded Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $55.00 to $80.00 in a report on Tuesday, August 12th. Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a report on Thursday, August 21st. Truist Financial upped their target price on Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, Robert W. Baird upped their target price on Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Insider Activity at Mercury Systems

In related news, EVP Steven Ratner sold 7,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $63.76, for a total transaction of $446,320.00. Following the sale, the executive vice president owned 33,801 shares in the company, valued at approximately $2,155,151.76. This trade represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stuart Kupinsky sold 1,220 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total transaction of $78,641.20. Following the sale, the executive vice president owned 70,297 shares in the company, valued at approximately $4,531,344.62. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 850,752 shares of company stock valued at $55,622,679 over the last ninety days. Corporate insiders own 1.60% of the company's stock.

Mercury Systems Company 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.