Calamos Advisors LLC Sells 24,742 Shares of Mercury Systems Inc $MRCY

Calamos Advisors LLC decreased its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 58.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,866 shares of the technology company’s stock after selling 24,742 shares during the quarter. Calamos Advisors LLC’s holdings in Mercury Systems were worth $1,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MRCY. BlackRock Inc. acquired a new position in Mercury Systems during the 2nd quarter valued at about $1,146,342,000. Segall Bryant & Hamill LLC raised its stake in Mercury Systems by 46.9% in the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company’s stock valued at $68,158,000 after buying an additional 298,298 shares during the last quarter. Wellington Management Group LLP raised its stake in Mercury Systems by 2.6% in the second quarter. Wellington Management Group LLP now owns 775,502 shares of the technology company’s stock valued at $94,867,000 after buying an additional 19,977 shares during the last quarter. Jennison Associates LLC raised its stake in Mercury Systems by 52.9% in the first quarter. Jennison Associates LLC now owns 688,114 shares of the technology company’s stock valued at $50,170,000 after buying an additional 238,147 shares during the last quarter. Finally, Bamco Inc. NY acquired a new stake in Mercury Systems in the second quarter worth about $74,244,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MRCY. Wall Street Zen downgraded shares of Mercury Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Oppenheimer began coverage on shares of Mercury Systems in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $90.00 target price for the company. Weiss Ratings downgraded shares of Mercury Systems from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Royal Bank Of Canada cut their price target on shares of Mercury Systems from $120.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $107.90.

Insider Buying and Selling

In other news, EVP Steven Ratner sold 4,000 shares of Mercury Systems stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $84.51, for a total value of $338,040.00. Following the sale, the executive vice president owned 19,275 shares in the company, valued at $1,628,930.25. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Ballhaus sold 49,090 shares of Mercury Systems stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the sale, the chief executive officer owned 361,822 shares in the company, valued at approximately $32,238,340.20. This trade represents a 11.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 452,186 shares of company stock valued at $41,933,170. 0.99% of the stock is owned by corporate insiders.

Mercury Systems Stock Up 8.3%

Mercury Systems stock opened at $79.62 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The stock has a market capitalization of $4.85 billion, a PE ratio of 224.25 and a beta of 0.98. The business has a 50 day simple moving average of $80.18 and a 200-day simple moving average of $91.07. Mercury Systems Inc has a 12 month low of $64.37 and a 12 month high of $128.45.

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). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The business had revenue of $289.78 million for the quarter, compared to analysts’ expectations of $266.09 million. During the same quarter last year, the business earned $0.47 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that Mercury Systems Inc will post 0.91 EPS for the current fiscal year.

About Mercury Systems

Mercury Systems, Inc develops and supplies secure processing systems and subsystems for the aerospace and defense industries. Its products include embedded computing, signal processing, radio-frequency and microwave components, and other technologies used to process and manage critical data.

The company’s technologies support applications such as radar, electronic warfare, communications, avionics, and command-and-control systems. Mercury works with defense contractors and government customers, providing components and systems designed for use in demanding environments.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury serves customers in the United States and internationally.