Insider Selling: Mercury Systems (NASDAQ:MRCY) Director Sells 400,000 Shares of Stock

by · The Markets Daily

Mercury Systems Inc (NASDAQ:MRCY – Get Free Report) Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the completion of the transaction, the director owned 4,566,675 shares in the company, valued at $369,900,675. This trade represents a 8.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mercury Systems Price Performance

Shares of MRCY traded down $4.03 during mid-day trading on Wednesday, reaching $80.33. The stock had a trading volume of 693,133 shares, compared to its average volume of 798,545. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -151.57, a PEG ratio of 6.99 and a beta of 0.75. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The business has a fifty day moving average of $84.29 and a 200 day moving average of $75.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY – Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $232.87 million during 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%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. Equities analysts predict that Mercury Systems Inc will post -0.08 EPS for the current year.

Analyst Ratings Changes

MRCY has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price target on shares of Mercury Systems in a report on Wednesday, November 5th. The Goldman Sachs Group boosted their price target on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, January 20th. Jefferies Financial Group restated a “hold” rating and set a $85.00 price objective on shares of Mercury Systems in a research note on Sunday. Finally, Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research report on Wednesday, February 4th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.89.

Read Our Latest Analysis on MRCY

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund grew its holdings in Mercury Systems by 6.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 26,540 shares of the technology company’s stock valued at $1,938,000 after purchasing an additional 1,544 shares during the period. Deutsche Bank AG lifted its position in shares of Mercury Systems by 185.4% during the 4th quarter. Deutsche Bank AG now owns 128,705 shares of the technology company’s stock valued at $9,397,000 after buying an additional 83,607 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Mercury Systems by 6.7% during the 4th quarter. Cerity Partners LLC now owns 59,556 shares of the technology company’s stock valued at $4,348,000 after buying an additional 3,754 shares in the last quarter. LPL Financial LLC grew its stake in Mercury Systems by 25.1% in the 4th quarter. LPL Financial LLC now owns 64,423 shares of the technology company’s stock valued at $4,704,000 after acquiring an additional 12,908 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Mercury Systems by 768.9% in the 4th quarter. Franklin Resources Inc. now owns 208,449 shares of the technology company’s stock worth $15,219,000 after acquiring an additional 184,458 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Mercury Systems Company Profile

(Get Free Report)

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.

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