Insider Selling: Mercury Systems (NASDAQ:MRCY) CEO Sells $9,684,705.50 in Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 108,209 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $89.50, for a total transaction of $9,684,705.50. Following the completion of the sale, the chief executive officer owned 299,836 shares of the company’s stock, valued at approximately $26,835,322. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mercury Systems Trading Up 0.8%

Mercury Systems stock opened at $90.47 on Friday. The company’s fifty day simple moving average is $105.53 and its 200-day simple moving average is $95.00. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45. The stock has a market cap of $5.44 billion, a P/E ratio of -180.94 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. As a group, sell-side analysts forecast that Mercury Systems Inc will post 0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRCY has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Weiss Ratings raised shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $131.00 target price (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a research report on Friday, July 10th. Finally, Robert W. Baird increased their price target on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.10.

Institutional Investors Weigh In On Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Mercury Systems during the second quarter valued at approximately $1,146,342,000. California State Teachers Retirement System grew its stake in Mercury Systems by 11,902.8% in the 2nd quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company’s stock valued at $933,404,000 after buying an additional 7,566,641 shares during the last quarter. State Street Corp raised its holdings in Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after acquiring an additional 368,242 shares during the period. Invesco Ltd. lifted its position in Mercury Systems by 25.1% during the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after acquiring an additional 383,299 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Mercury Systems by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after acquiring an additional 21,182 shares during the period. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.