Comerica Bank reduced its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,465 shares of the technology company’s stock after selling 1,416 shares during the period. Comerica Bank’s holdings in Mercury Systems were worth $2,377,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advisor Group Inc. grew its position in Mercury Systems by 97.8% during the third quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock valued at $132,000 after acquiring an additional 1,264 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Mercury Systems by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after acquiring an additional 195 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Mercury Systems during the third quarter valued at approximately $206,000. Dorsey & Whitney Trust CO LLC bought a new position in Mercury Systems during the third quarter valued at approximately $215,000. Finally, Fox Run Management L.L.C. bought a new position in Mercury Systems during the fourth quarter valued at approximately $229,000. Institutional investors and hedge funds own 94.86% of the company’s stock.
A number of research analysts have commented on the stock. Bank of America reduced their price target on shares of Mercury Systems from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Noble Financial reiterated a “hold” rating on shares of Mercury Systems in a research report on Thursday, January 25th. BidaskClub upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, October 31st. Finally, SunTrust Banks reiterated a “buy” rating and set a $61.00 price target on shares of Mercury Systems in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Mercury Systems currently has an average rating of “Hold” and an average price target of $54.71.
In other news, Director Vincent Vitto sold 8,500 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $52.04, for a total transaction of $442,340.00. Following the completion of the sale, the director now owns 79,539 shares of the company’s stock, valued at $4,139,209.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mark Aslett sold 9,600 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $52.17, for a total value of $500,832.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,100 shares of company stock valued at $3,330,747. Insiders own 3.50% of the company’s stock.
Shares of Mercury Systems Inc (NASDAQ:MRCY) opened at $46.33 on Friday. The firm has a market capitalization of $2,185.87, a P/E ratio of 50.36, a PEG ratio of 3.64 and a beta of 0.33. Mercury Systems Inc has a 52 week low of $36.09 and a 52 week high of $55.00.
Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $114.89 million. Mercury Systems had a net margin of 9.61% and a return on equity of 6.32%. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. analysts anticipate that Mercury Systems Inc will post 1.09 earnings per share for the current fiscal year.
WARNING: This piece of content was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/23/comerica-bank-sells-1416-shares-of-mercury-systems-inc-mrcy.html.
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. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
Want to see what other hedge funds are holding MRCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercury Systems Inc (NASDAQ:MRCY).
Receive News & Ratings for Mercury Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercury Systems and related companies with MarketBeat.com's FREE daily email newsletter.