William Ballhaus Sells 65,000 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 65,000 shares of Mercury Systems stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $92.41, for a total transaction of $6,006,650.00. Following the completion of the sale, the chief executive officer directly owned 256,047 shares in the company, valued at approximately $23,661,303.27. This represents a 20.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Mercury Systems Stock Performance

Shares of Mercury Systems stock traded down $1.85 on Tuesday, reaching $87.74. 1,093,324 shares of the company traded hands, compared to its average volume of 682,659. The company has a 50 day moving average of $107.01 and a 200 day moving average of $94.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. Mercury Systems Inc has a 52 week low of $65.04 and a 52 week high of $128.45. The firm has a market capitalization of $5.28 billion, a PE ratio of -175.48 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Mercury Systems Inc will post 0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MRCY shares. Piper Sandler reiterated an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday. Truist Financial lifted their target price on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group upped their price target on shares of Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Mercury Systems currently has an average rating of “Hold” and a consensus target price of $110.10.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System grew its position in Mercury Systems by 1.8% during the fourth quarter. Maryland State Retirement & Pension System now owns 7,714 shares of the technology company’s stock worth $563,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Mercury Systems by 8.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,984 shares of the technology company’s stock valued at $243,000 after acquiring an additional 155 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Mercury Systems by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,058 shares of the technology company’s stock valued at $880,000 after acquiring an additional 187 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Mercury Systems by 1.3% during the 4th quarter. Arizona State Retirement System now owns 15,211 shares of the technology company’s stock valued at $1,111,000 after acquiring an additional 195 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Mercury Systems by 3.0% during the third quarter. Focus Partners Wealth now owns 6,929 shares of the technology company’s stock worth $536,000 after purchasing an additional 199 shares in the last quarter. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

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.