M&T Bank Corp Increases Stock Position in Mercury Systems, Inc. (NASDAQ:MRCY)

M&T Bank Corp raised its stake in shares of Mercury Systems, Inc. (NASDAQ:MRCY) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,218 shares of the technology company’s stock after purchasing an additional 7,779 shares during the period. M&T Bank Corp owned 0.12% of Mercury Systems worth $2,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Mercury Systems by 144.0% during the third quarter. Signaturefd LLC now owns 666 shares of the technology company’s stock valued at $25,000 after buying an additional 393 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Mercury Systems by 1,126.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,165 shares of the technology company’s stock valued at $31,000 after acquiring an additional 1,070 shares during the last quarter. Covestor Ltd grew its holdings in shares of Mercury Systems by 41.2% in the third quarter. Covestor Ltd now owns 2,124 shares of the technology company’s stock valued at $78,000 after purchasing an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Mercury Systems by 216.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,373 shares of the technology company’s stock worth $64,000 after purchasing an additional 1,622 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Mercury Systems during the second quarter valued at $81,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Trading Down 2.1 %

MRCY opened at $37.87 on Friday. Mercury Systems, Inc. has a one year low of $25.31 and a one year high of $44.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -18.33 and a beta of 0.78. The stock’s 50 day moving average price is $37.77 and its 200-day moving average price is $35.08.

Analyst Ratings Changes

MRCY has been the topic of a number of research reports. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Monday, August 19th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised their price objective on Mercury Systems from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group upgraded Mercury Systems from an “underperform” rating to a “hold” rating and lifted their target price for the stock from $30.00 to $42.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.29.

Insider Buying and Selling at Mercury Systems

In other Mercury Systems news, COO Charles Roger Iv Wells sold 1,527 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $38.80, for a total value of $59,247.60. Following the completion of the sale, the chief operating officer now directly owns 113,488 shares of the company’s stock, valued at $4,403,334.40. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.