William Ballhaus Sells 111,076 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 111,076 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $87.12, for a total value of $9,676,941.12. Following the transaction, the chief executive officer owned 342,436 shares in the company, valued at $29,833,024.32. This trade represents a 24.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mercury Systems Stock Up 0.8%

Shares of NASDAQ:MRCY traded up $0.71 during trading on Thursday, hitting $90.47. The stock had a trading volume of 436,148 shares, compared to its average volume of 680,573. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45. The company has a market capitalization of $5.44 billion, a PE ratio of -180.94 and a beta of 0.95. The firm’s fifty day moving average is $106.00 and its 200 day moving average is $94.94. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The firm had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts anticipate that Mercury Systems Inc will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MRCY shares. The Goldman Sachs Group boosted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada raised their target price 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. One 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $110.10.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Mercury Systems during the second quarter valued at $1,146,342,000. California State Teachers Retirement System lifted its stake in Mercury Systems by 11,902.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company’s stock valued at $933,404,000 after acquiring an additional 7,566,641 shares during the period. Invesco Ltd. boosted its holdings in shares of Mercury Systems by 161.7% during the 3rd quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after acquiring an additional 943,736 shares during the last quarter. Bamco Inc. NY bought a new stake in shares of Mercury Systems in the second quarter worth approximately $74,244,000. Finally, American Capital Management Inc. purchased a new position in shares of Mercury Systems during the second quarter valued at approximately $59,460,000. 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.