Insider Selling: Mercury Systems Inc (MRCY) CFO Sells 2,500 Shares of Stock
Mercury Systems Inc (NASDAQ:MRCY) CFO Gerald M. Haines II sold 2,500 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $51.94, for a total value of $129,850.00. Following the transaction, the chief financial officer now owns 220,760 shares of the company’s stock, valued at $11,466,274.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Mercury Systems Inc (MRCY) traded up 1.72% during midday trading on Monday, hitting $52.77. The stock had a trading volume of 233,639 shares. The firm has a 50-day moving average of $46.64 and a 200 day moving average of $41.72. The firm has a market cap of $2.54 billion, a PE ratio of 90.98 and a beta of 0.41. Mercury Systems Inc has a 12-month low of $22.31 and a 12-month high of $52.77.
Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, August 1st. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. Mercury Systems had a return on equity of 4.87% and a net margin of 6.09%. The business had revenue of $115.60 million for the quarter, compared to the consensus estimate of $115.11 million. During the same period last year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, analysts expect that Mercury Systems Inc will post $1.24 earnings per share for the current year.
A number of brokerages recently issued reports on MRCY. SunTrust Banks, Inc. restated a “buy” rating and issued a $51.00 price target on shares of Mercury Systems in a research note on Monday. Zacks Investment Research downgraded shares of Mercury Systems from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price objective on shares of Mercury Systems in a report on Wednesday, August 2nd. Finally, BidaskClub raised shares of Mercury Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Mercury Systems currently has an average rating of “Buy” and a consensus price target of $45.50.
Several hedge funds have recently made changes to their positions in MRCY. Piedmont Investment Advisors LLC acquired a new stake in shares of Mercury Systems during the 2nd quarter worth approximately $437,000. Ameritas Investment Partners Inc. increased its position in shares of Mercury Systems by 5.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after purchasing an additional 195 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Mercury Systems by 14.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,648 shares of the technology company’s stock valued at $1,500,000 after purchasing an additional 4,440 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Mercury Systems by 63.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 54,563 shares of the technology company’s stock valued at $2,279,000 after purchasing an additional 21,273 shares during the period. Finally, State Street Corp increased its position in shares of Mercury Systems by 13.2% during the second quarter. State Street Corp now owns 1,684,565 shares of the technology company’s stock valued at $70,906,000 after purchasing an additional 196,075 shares during the period. Institutional investors own 96.43% of the company’s stock.
Mercury Systems Company Profile
Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.
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