Insider Selling: Mercury Systems (NASDAQ:MRCY) Director Sells $17,165,065.50 in Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 182,510 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $94.05, for a total transaction of $17,165,065.50. Following the sale, the director owned 4,384,165 shares of the company’s stock, valued at approximately $412,330,718.25. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 Tuesday, March 3rd, Jana Partners Management, Lp sold 168,648 shares of Mercury Systems stock. The stock was sold at an average price of $90.12, for a total transaction of $15,198,557.76.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00.

Mercury Systems Trading Up 1.7%

Mercury Systems stock opened at $86.42 on Friday. The company’s fifty day simple moving average is $89.04 and its 200-day simple moving average is $78.70. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The stock has a market cap of $5.19 billion, a P/E ratio of -163.06, a P/E/G ratio of 8.23 and a beta of 0.77.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results 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. The business had revenue of $232.87 million for the quarter, compared to the consensus estimate of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. Mercury Systems’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, sell-side analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Institutional Trading of Mercury Systems

Several large investors have recently made changes to their positions in MRCY. Corecam Pte. Ltd. bought a new position in shares of Mercury Systems in the 4th quarter valued at approximately $321,000. T. Rowe Price Investment Management Inc. lifted its holdings in 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 worth $112,644,000 after purchasing an additional 21,182 shares during the last quarter. Invesco Ltd. boosted its position in Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after purchasing an additional 383,299 shares during the period. Corient Private Wealth LLC boosted its position in Mercury Systems by 171.5% during the fourth quarter. Corient Private Wealth LLC now owns 15,622 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 9,867 shares during the period. Finally, Vident Advisory LLC grew its holdings in Mercury Systems by 2.9% during the fourth quarter. Vident Advisory LLC now owns 121,888 shares of the technology company’s stock valued at $8,899,000 after purchasing an additional 3,382 shares during the last quarter. Institutional investors own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MRCY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.89.

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.