Mercury Systems (MRCY) Shares Down 0% After Insider Selling

Shares of Mercury Systems Inc (NASDAQ:MRCY) fell 0% on Monday following insider selling activity. The company traded as low as $43.38 and last traded at $43.42. 760,203 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 463,321 shares. The stock had previously closed at $43.42.

Specifically, COO Didier M. C. Thibaud sold 3,500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $49.52, for a total transaction of $173,320.00. Following the completion of the transaction, the chief operating officer now directly owns 379,940 shares of the company’s stock, valued at approximately $18,814,628.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gerald M. Haines II sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $47.69, for a total value of $119,225.00. Following the transaction, the chief financial officer now directly owns 210,760 shares of the company’s stock, valued at $10,051,144.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,600 shares of company stock valued at $3,558,499. 3.50% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on MRCY. Noble Financial reaffirmed a “hold” rating on shares of Mercury Systems in a research report on Thursday, January 25th. Citigroup reaffirmed a “buy” rating and set a $61.00 target price on shares of Mercury Systems in a research report on Wednesday, January 24th. BidaskClub lowered Mercury Systems from a “sell” rating to a “strong sell” rating in a research report on Friday, January 19th. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $59.00 target price for the company in a research report on Thursday, January 11th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $48.00 target price on shares of Mercury Systems in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $55.50.

The firm has a market cap of $2,250.52, a PE ratio of 47.20, a price-to-earnings-growth ratio of 4.01 and a beta of 0.33.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, January 23rd. The technology company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Mercury Systems had a return on equity of 6.32% and a net margin of 9.61%. The business had revenue of $117.90 million during the quarter, compared to the consensus estimate of $114.89 million. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. equities analysts anticipate that Mercury Systems Inc will post 1.09 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of Mercury Systems by 5.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock worth $173,000 after acquiring an additional 195 shares in the last quarter. Amalgamated Bank raised its position in shares of Mercury Systems by 5.4% in the 2nd quarter. Amalgamated Bank now owns 6,290 shares of the technology company’s stock worth $265,000 after acquiring an additional 321 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Mercury Systems by 1.7% in the 2nd quarter. California Public Employees Retirement System now owns 46,900 shares of the technology company’s stock worth $1,974,000 after acquiring an additional 800 shares in the last quarter. Advisor Group Inc. increased its position in Mercury Systems by 97.8% in the 3rd quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock valued at $132,000 after buying an additional 1,264 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in Mercury Systems by 24.9% in the 3rd quarter. LS Investment Advisors LLC now owns 6,457 shares of the technology company’s stock valued at $335,000 after buying an additional 1,288 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

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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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