Royal Bank of Canada Has $31.80 Million Holdings in Mercury Systems, Inc. (NASDAQ:MRCY)

Royal Bank of Canada reduced its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 757,236 shares of the technology company’s stock after selling 5,125 shares during the quarter. Royal Bank of Canada’s holdings in Mercury Systems were worth $31,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its stake in shares of Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock valued at $87,058,000 after buying an additional 743,552 shares in the last quarter. Millennium Management LLC raised its stake in shares of Mercury Systems by 196.1% in the 4th quarter. Millennium Management LLC now owns 1,023,508 shares of the technology company’s stock valued at $42,987,000 after buying an additional 677,894 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Mercury Systems in the 4th quarter valued at $16,601,000. First Trust Advisors LP raised its stake in shares of Mercury Systems by 50.8% in the 4th quarter. First Trust Advisors LP now owns 988,936 shares of the technology company’s stock valued at $41,535,000 after buying an additional 333,109 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Mercury Systems by 16.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,060,131 shares of the technology company’s stock valued at $86,526,000 after buying an additional 294,747 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mercury Systems news, EVP Steven Ratner sold 3,892 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $47.70, for a total transaction of $185,648.40. Following the sale, the executive vice president now owns 56,187 shares of the company’s stock, valued at $2,680,119.90. This represents a 6.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Management, Lp sold 88,152 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the sale, the director now directly owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Mercury Systems Stock Up 0.6%

Shares of NASDAQ:MRCY opened at $47.20 on Friday. Mercury Systems, Inc. has a 12 month low of $26.48 and a 12 month high of $52.25. The company’s 50-day moving average price is $46.61 and its two-hundred day moving average price is $43.72. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2.82 billion, a P/E ratio of -30.26 and a beta of 0.70.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The firm had revenue of $211.36 million for the quarter, compared to analyst estimates of $204.25 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the subject of a number of recent analyst reports. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Truist Financial upgraded shares of Mercury Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. Royal Bank of Canada increased their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group increased their target price on shares of Mercury Systems from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Monday, May 12th. Finally, Baird R W upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.71.

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.