Mercury Systems (NASDAQ:MRCY) Director Sells $32,400,000.00 in Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 400,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the sale, the director owned 4,566,675 shares of the company’s stock, valued at $369,900,675. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mercury Systems Price Performance

NASDAQ MRCY opened at $82.36 on Friday. The stock has a 50-day simple moving average of $84.71 and a 200 day simple moving average of $75.60. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84. The stock has a market capitalization of $4.94 billion, a PE ratio of -155.40, a P/E/G ratio of 6.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The firm had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same quarter last year, the firm posted $0.07 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MRCY. Truist Financial boosted their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a research note on Wednesday, November 5th. The Goldman Sachs Group raised their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Finally, Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.89.

Institutional Trading of Mercury Systems

Institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in Mercury Systems during the third quarter worth $32,000. Osaic Holdings Inc. grew its holdings in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Quaker Wealth Management LLC increased its position in shares of Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,288 shares in the last quarter. Leonteq Securities AG bought a new position in Mercury Systems during the 4th quarter valued at about $35,000. Finally, Hollencrest Capital Management bought a new position in Mercury Systems during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

About Mercury Systems

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.