Insider Selling: Mercury Systems (NASDAQ:MRCY) Director Sells $15,198,557.76 in Stock

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

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 shares were 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 Trading Up 1.7%

MRCY opened at $86.42 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The firm has a market capitalization of $5.19 billion, a PE ratio of -163.06, a P/E/G ratio of 8.23 and a beta of 0.77. The company’s 50-day moving average is $89.04 and its 200 day moving average is $78.70.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $232.87 million for the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. As a group, research analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercury Systems

Institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems during the third quarter valued at approximately $32,000. Osaic Holdings Inc. boosted its position in Mercury Systems by 53.2% in the second 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. Leonteq Securities AG bought a new position in Mercury Systems in the 4th quarter valued at $35,000. Hollencrest Capital Management bought a new position in Mercury Systems in the 4th quarter valued at $37,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Mercury Systems during the 2nd quarter valued at $43,000. 95.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MRCY has been the subject of several recent research reports. Truist Financial upped their price target on Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 target price on shares of Mercury Systems in a research note on Sunday, February 8th. Finally, Canaccord Genuity Group set a $102.00 target price on shares of Mercury Systems in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $86.89.

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.