Mercury Systems (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 182,510 Shares

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 182,510 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $94.05, for a total value of $17,165,065.50. Following the completion of the transaction, the director owned 4,384,165 shares in the company, valued at $412,330,718.25. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Jana Partners Management, Lp also recently made the following trade(s):

• On Wednesday, March 4th, Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock. The stock was sold at an average price of $89.68, for a total value of $9,048,622.32.
• On Tuesday, March 3rd, Jana Partners Management, Lp sold 168,648 shares of Mercury Systems stock. The shares were sold at an average price of $90.12, for a total value of $15,198,557.76.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00.

Mercury Systems Stock Down 0.3%

MRCY traded down $0.25 on Wednesday, hitting $89.18. 457,214 shares of the company were exchanged, compared to its average volume of 641,791. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96. The stock’s fifty day moving average is $88.59 and its 200-day moving average is $78.52. The company has a market cap of $5.35 billion, a PE ratio of -168.26, a PEG ratio of 8.66 and a beta of 0.77. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The business had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.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 earned $0.07 EPS. Equities research analysts predict that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Mercury Systems

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted 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 stake in shares of Mercury Systems by 12.1% in the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after buying an additional 368,242 shares during the last quarter. Invesco Ltd. grew its stake in shares of Mercury Systems by 25.1% during the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after purchasing an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Mercury Systems by 1.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after buying an additional 21,182 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Mercury Systems by 96.3% in the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after purchasing an additional 751,813 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRCY. Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a research note on Wednesday, February 4th. The Goldman Sachs Group increased their price target on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Truist Financial boosted their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Jefferies Financial Group restated a “hold” rating and issued a $85.00 target price on shares of Mercury Systems in a research note on Sunday, February 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.89.

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.