Bank of New York Mellon Corp decreased its position in shares of Mercury Systems Inc (NASDAQ:MRCY) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,486,720 shares of the technology company’s stock after selling 86,625 shares during the period. Bank of New York Mellon Corp owned 3.10% of Mercury Systems worth $62,574,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Mercury Systems by 29.2% in the second quarter. Bank of Montreal Can now owns 2,459 shares of the technology company’s stock worth $104,000 after buying an additional 556 shares during the period. Flinton Capital Management LLC boosted its position in shares of Mercury Systems by 18.6% in the first quarter. Flinton Capital Management LLC now owns 2,822 shares of the technology company’s stock worth $110,000 after buying an additional 442 shares during the period. Private Advisor Group LLC acquired a new position in shares of Mercury Systems during the first quarter worth about $116,000. Ameritas Investment Partners Inc. acquired a new position in shares of Mercury Systems during the first quarter worth about $153,000. Finally, First Mercantile Trust Co. acquired a new position in shares of Mercury Systems during the first quarter worth about $159,000. 96.67% of the stock is owned by institutional investors.

Mercury Systems Inc (MRCY) opened at 48.25 on Friday. Mercury Systems Inc has a 12 month low of $21.52 and a 12 month high of $49.07. The stock has a market capitalization of $2.32 billion, a PE ratio of 83.19 and a beta of 0.39. The company’s 50-day moving average is $45.38 and its 200-day moving average is $40.79.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Mercury Systems had a net margin of 6.09% and a return on equity of 4.87%. The company had revenue of $115.60 million for the quarter, compared to analysts’ expectations of $115.11 million. During the same period in the prior year, the business earned $0.23 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Equities research analysts forecast that Mercury Systems Inc will post $1.24 EPS for the current year.

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A number of brokerages recently issued reports on MRCY. Zacks Investment Research raised shares of Mercury Systems from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Thursday, June 22nd. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price target on shares of Mercury Systems in a research report on Wednesday, August 2nd. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research report on Thursday, August 3rd. Finally, BidaskClub raised shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.00.

In other Mercury Systems news, VP Charles A. Speicher sold 7,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $44.09, for a total transaction of $308,630.00. Following the completion of the sale, the vice president now directly owns 36,983 shares of the company’s stock, valued at $1,630,580.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Aslett sold 9,400 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $38.04, for a total transaction of $357,576.00. Following the sale, the insider now directly owns 538,249 shares of the company’s stock, valued at $20,474,991.96. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Mercury Systems Company Profile

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.

Institutional Ownership by Quarter for Mercury Systems (NASDAQ:MRCY)

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