Mercury Systems (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 168,648 Shares

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 168,648 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $90.12, for a total transaction of $15,198,557.76. Following the completion of the transaction, the director directly owned 4,215,517 shares of the company’s stock, valued at approximately $379,902,392.04. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 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 value of $32,400,000.00.

Mercury Systems Price Performance

Shares of NASDAQ MRCY traded down $0.25 during midday trading on Wednesday, hitting $89.18. 457,214 shares of the company’s stock were exchanged, compared to its average volume of 641,791. The company has a current ratio of 2.96, a quick ratio of 2.04 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 company has a market cap of $5.35 billion, a price-to-earnings ratio of -168.26, a PEG ratio of 8.66 and a beta of 0.77. The business’s fifty day moving average price is $88.59 and its two-hundred day moving average price is $78.52.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company 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 firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. As a group, research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MRCY has been the subject of a number of recent analyst reports. Canaccord Genuity Group set a $102.00 target price on Mercury Systems in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Truist Financial boosted their price target on Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group boosted 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. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $86.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC purchased a new stake in Mercury Systems during the 3rd quarter valued at $32,000. Osaic Holdings Inc. raised its stake in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after acquiring an additional 208 shares during the period. Leonteq Securities AG purchased a new stake in shares of Mercury Systems in the fourth quarter valued at $35,000. Hollencrest Capital Management bought a new stake in shares of Mercury Systems in the 4th quarter worth about $37,000. Finally, Federated Hermes Inc. purchased a new position in shares of Mercury Systems during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

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.