Mercury Systems (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 168,648 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 168,648 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $90.12, for a total value of $15,198,557.76. Following the completion of the sale, the director owned 4,215,517 shares of the company’s stock, valued at $379,902,392.04. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jana Partners Management, Lp also recently made the following trade(s):

• On Monday, March 2nd, Jana Partners Management, Lp sold 182,510 shares of Mercury Systems stock. The shares were sold at an average price of $94.05, for a total transaction of $17,165,065.50.
• On Wednesday, March 4th, Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The stock was sold at an average price of $81.00, for a total transaction of $32,400,000.00.

Mercury Systems Stock Down 0.3%

Mercury Systems stock opened at $89.18 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.35 billion, a P/E ratio of -168.26, a P/E/G ratio of 8.66 and a beta of 0.77. The business has a fifty day moving average of $88.59 and a two-hundred day moving average of $78.52. Mercury Systems Inc has a twelve month low of $39.89 and a twelve month high of $103.84.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $209.96 million. During the same period in the prior year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 price target on shares of Mercury Systems in a report on Sunday, February 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Mercury Systems in a report on Wednesday, February 4th. Finally, Truist Financial boosted their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.89.

Institutional Investors Weigh In On Mercury Systems

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Mercury Systems by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after acquiring an additional 221,093 shares during the last quarter. State Street Corp increased its holdings in Mercury Systems by 12.1% during the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after purchasing an additional 368,242 shares during the period. Invesco Ltd. raised its holdings in Mercury Systems by 25.1% in the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock valued at $139,503,000 after acquiring an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Mercury Systems by 1.4% in the 4th 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 purchasing an additional 21,182 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Mercury Systems by 96.3% during the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after acquiring an additional 751,813 shares in the last quarter. Hedge funds and other institutional investors 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.