Mercury Systems Inc. (MRCY) Stake Raised by Bank of New York Mellon Corp

Mercury Systems Inc. (MRCY) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Mercury Systems Inc. (NASDAQ:MRCY) by 28.3% during the third quarter, Holdings Channel reports. The firm owned 1,207,883 shares of the company’s stock after buying an additional 266,156 shares during the period. Bank of New York Mellon Corp’s holdings in Mercury Systems were worth $29,678,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in shares of Mercury Systems by 0.6% in the third quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the company’s stock valued at $437,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its stake in shares of Mercury Systems by 0.5% in the third quarter. Arizona State Retirement System now owns 20,875 shares of the company’s stock valued at $513,000 after buying an additional 100 shares during the period. Texas Permanent School Fund increased its stake in shares of Mercury Systems by 0.5% in the third quarter. Texas Permanent School Fund now owns 30,746 shares of the company’s stock valued at $755,000 after buying an additional 139 shares during the period. Capital One National Association increased its stake in shares of Mercury Systems by 2.3% in the third quarter. Capital One National Association now owns 33,483 shares of the company’s stock valued at $823,000 after buying an additional 748 shares during the period. Finally, Eagle Boston Investment Management Inc. increased its stake in shares of Mercury Systems by 0.6% in the third quarter. Eagle Boston Investment Management Inc. now owns 152,804 shares of the company’s stock valued at $3,754,000 after buying an additional 909 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Mercury Systems Inc. (NASDAQ:MRCY) traded down 1.23% during midday trading on Wednesday, hitting $30.47. 37,377 shares of the stock were exchanged. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 53.27 and a beta of 0.47. Mercury Systems Inc. has a 52 week low of $15.67 and a 52 week high of $32.75. The firm’s 50-day moving average is $30.78 and its 200 day moving average is $25.87.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. Mercury Systems had a net margin of 7.21% and a return on equity of 6.43%. The business earned $87.65 million during the quarter, compared to the consensus estimate of $85.08 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. Equities research analysts expect that Mercury Systems Inc. will post $0.50 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Group set a $27.00 price objective on shares of Mercury Systems and gave the company a “hold” rating in a research report on Tuesday, November 8th. Bank of America Corp. assumed coverage on shares of Mercury Systems in a research report on Friday, November 18th. They issued a “neutral” rating for the company. Finally, Robert W. Baird assumed coverage on shares of Mercury Systems in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $28.00.

In other Mercury Systems news, Director Vincent Vitto sold 4,500 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $31.44, for a total value of $141,480.00. Following the completion of the transaction, the director now owns 67,639 shares in the company, valued at approximately $2,126,570.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Aslett sold 109,600 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $31.80, for a total transaction of $3,485,280.00. Following the completion of the transaction, the insider now owns 664,676 shares of the company’s stock, valued at approximately $21,136,696.80. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

About Mercury Systems

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. The Company’s technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

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