Mercury Systems Inc $MRCY Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in shares of Mercury Systems Inc (NASDAQ:MRCY) by 17.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 532,687 shares of the technology company’s stock after selling 111,445 shares during the period. Royal Bank of Canada owned about 0.89% of Mercury Systems worth $38,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of Mercury Systems by 7.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 27,951 shares of the technology company’s stock worth $2,038,000 after purchasing an additional 1,840 shares during the period. Gabelli Funds LLC grew its position in Mercury Systems by 242.4% during the first quarter. Gabelli Funds LLC now owns 28,893 shares of the technology company’s stock valued at $2,107,000 after buying an additional 20,455 shares during the period. PNC Financial Services Group Inc. grew its position in Mercury Systems by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,045 shares of the technology company’s stock valued at $514,000 after buying an additional 319 shares during the period. Swiss National Bank increased its holdings in Mercury Systems by 0.4% in the first quarter. Swiss National Bank now owns 106,900 shares of the technology company’s stock valued at $7,794,000 after buying an additional 400 shares in the last quarter. Finally, Freemont Management S.A. acquired a new position in shares of Mercury Systems in the first quarter worth about $2,311,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MRCY shares. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Canaccord Genuity Group increased their price target on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Truist Financial upgraded Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Finally, The Goldman Sachs Group increased their target price on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.78.

Mercury Systems Price Performance

NASDAQ:MRCY opened at $105.79 on Tuesday. The stock has a 50 day moving average of $108.62 and a two-hundred day moving average of $94.12. Mercury Systems Inc has a 12 month low of $51.86 and a 12 month high of $128.45. The firm has a market cap of $6.35 billion, a P/E ratio of -440.79 and a beta of 0.95. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business had revenue of $235.76 million for the quarter, compared to the consensus estimate of $208.56 million. During the same quarter last year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that Mercury Systems Inc will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Mercury Systems

In other news, Director Orlando D. Carvalho sold 7,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the sale, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Ratner sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $92.46, for a total transaction of $184,920.00. Following the completion of the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,250 shares of company stock worth $1,733,220. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Company Profile

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.