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

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 65,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer directly owned 256,047 shares of the company’s stock, valued at $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 through this link.

Mercury Systems Trading Down 2.1%

Shares of MRCY stock opened at $87.74 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The stock has a fifty day simple moving average of $106.52 and a two-hundred day simple moving average of $94.87. The firm has a market capitalization of $5.28 billion, a PE ratio of -175.48 and a beta of 0.95. Mercury Systems Inc has a 52-week low of $65.04 and a 52-week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share 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 business 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 company earned $0.47 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Mercury Systems Inc will post 0.77 EPS for the current fiscal year.

More Mercury Systems News

Here are the key news stories impacting Mercury Systems this week:

• Neutral Sentiment: Reported short interest was listed at zero shares as of August 25, unchanged from zero shares previously, with a 0.0-day days-to-cover ratio. Because the data also reports an invalid “NaN” percentage change, it provides little useful signal for investors.
• Neutral Sentiment: A law firm is asking Mercury Systems shareholders to discuss their rights and options regarding alleged potential fiduciary-duty breaches. The release is an investor solicitation rather than a confirmed regulatory finding or lawsuit outcome, but it may add headline risk. Shareholder fiduciary-duty solicitation
• Negative Sentiment: CEO William L. Ballhaus sold 65,000 shares for approximately $6.0 million on August 21 at an average price of $92.41, reducing his direct ownership by 20.25%. He sold another 108,209 shares for approximately $9.7 million on August 24 at an average price of $89.50, a 26.52% reduction in ownership. The combined sales of roughly $15.7 million can be viewed as a lack of confidence by some investors, even though insider sales can also reflect diversification or personal financial planning. CEO SEC Form 4 filings
• Negative Sentiment: EVP Stuart Kupinsky sold 1,000 shares for $95,230, while EVP Steven Ratner sold 356 shares for $32,524. Kupinsky’s transaction was executed under a pre-arranged Rule 10b5-1 plan, which somewhat reduces its signaling value, but the additional executive selling reinforces the near-term bearish narrative. Executive SEC Form 4 filings

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MRCY. Royal Bank Of Canada increased their price objective on shares of Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Robert W. Baird upped their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Piper Sandler restated an “overweight” rating and set a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $110.10.

Institutional Trading of Mercury Systems

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in Mercury Systems during the first quarter valued at approximately $755,000. Goldman Sachs Group Inc. raised its holdings in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after buying an additional 290,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Mercury Systems by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock worth $6,878,000 after buying an additional 18,916 shares during the last quarter. Jane Street Group LLC lifted its position in Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock worth $2,188,000 after buying an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Mercury Systems by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after buying an additional 29,057 shares during the period. 95.99% of the stock is currently owned by hedge funds and other 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.