Insider Selling: Mercury Systems (NASDAQ:MRCY) EVP Sells $32,524.16 in Stock

Mercury Systems Inc (NASDAQ:MRCY) EVP Steven Ratner sold 356 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $91.36, for a total value of $32,524.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Steven Ratner also recently made the following trade(s):

• On Thursday, August 20th, Steven Ratner sold 1,026 shares of Mercury Systems stock. The shares were sold at an average price of $97.67, for a total value of $100,209.42.
• On Wednesday, August 19th, Steven Ratner sold 2,187 shares of Mercury Systems stock. The shares were sold at an average price of $100.31, for a total value of $219,377.97.
• On Tuesday, August 18th, Steven Ratner sold 1,971 shares of Mercury Systems stock. The stock was sold at an average price of $111.36, for a total value of $219,490.56.
• On Monday, August 17th, Steven Ratner sold 1,084 shares of Mercury Systems stock. The shares were sold at an average price of $109.95, for a total value of $119,185.80.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $90.47 on Friday. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week high of $128.45. The firm’s 50-day simple moving average is $105.53 and its 200 day simple moving average is $95.00. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.44 billion, a P/E ratio of -180.94 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Equities analysts expect that Mercury Systems Inc will post 0.88 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on MRCY. Royal Bank Of Canada raised their price objective on shares of Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Zacks Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed 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. Robert W. Baird lifted their price target on Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.10.

Institutional Trading of Mercury Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in MRCY. Osaic Holdings Inc. lifted its stake in Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the last quarter. Leonteq Securities AG bought a new stake in Mercury Systems during the fourth quarter worth approximately $35,000. Hollencrest Capital Management acquired a new position in Mercury Systems in the fourth quarter worth approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in Mercury Systems in the second quarter worth approximately $43,000. Finally, Federated Hermes Inc. bought a new position in shares of Mercury Systems in the second quarter valued at $43,000. 95.99% of the stock is currently owned by institutional investors.

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.