Mercury Systems (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 400,000 Shares

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 400,000 shares of the company’s 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 sale, the director directly owned 4,566,675 shares of the company’s stock, valued at approximately $369,900,675. This represents a 8.05% 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.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $80.33 on Thursday. 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 $4.82 billion, a price-to-earnings ratio of -151.57, a PEG ratio of 6.99 and a beta of 0.75. The stock’s 50 day moving average price is $84.29 and its 200 day moving average price is $75.36. 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 (NASDAQ:MRCY) last issued its quarterly 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. 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 analyst estimates of $209.96 million. During the same period last year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercury Systems

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Mercury Systems by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock worth $443,582,000 after acquiring an additional 221,093 shares during the period. State Street Corp boosted its holdings in shares of Mercury Systems by 8.7% during the second quarter. State Street Corp now owns 3,246,573 shares of the technology company’s stock worth $174,860,000 after purchasing an additional 259,388 shares during the period. Conestoga Capital Advisors LLC grew its position in Mercury Systems by 13.3% during the second quarter. Conestoga Capital Advisors LLC now owns 2,558,935 shares of the technology company’s stock valued at $137,824,000 after purchasing an additional 300,749 shares in the last quarter. First Trust Advisors LP grew its position in Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after purchasing an additional 751,813 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Mercury Systems by 161.7% in the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after buying an additional 943,736 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MRCY has been the topic of several research reports. Raymond James Financial reaffirmed 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 lifted their target price 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 target price on Mercury Systems in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Finally, Truist Financial upped their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mercury Systems presently has a consensus rating of “Hold” and a consensus 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.