Mercury Systems (NASDAQ:MRCY) Director Sells $9,048,622.32 in Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 100,899 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32. Following the completion of the transaction, the director directly owned 4,114,618 shares of the company’s stock, valued at approximately $368,998,942.24. The trade was a 2.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $94.05, for a total value of $17,165,065.50.
• On Tuesday, March 3rd, Jana Partners Management, Lp sold 168,648 shares of Mercury Systems stock. The shares were sold at an average price of $90.12, for a total value 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 value of $32,400,000.00.

Mercury Systems Stock Up 1.7%

MRCY stock 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. The stock has a market capitalization 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 Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The business has a 50-day moving average of $89.04 and a 200-day moving average of $78.70.

Mercury Systems (NASDAQ:MRCY) last announced 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. The business had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.Mercury Systems’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. On average, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Mercury Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRCY. Invesco Ltd. lifted its stake in Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after acquiring an additional 943,736 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Mercury Systems by 321.7% during the 2nd quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after purchasing an additional 757,216 shares during the last quarter. First Trust Advisors LP increased its stake 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 purchasing an additional 751,813 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Mercury Systems by 287.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after purchasing an additional 514,756 shares during the period. Finally, State Street Corp raised its holdings in shares of Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after purchasing an additional 368,242 shares during the period. 95.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MRCY shares. 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 research report on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 target price on shares of Mercury Systems in a research report on Sunday, February 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.