Mercury Systems, Inc. (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 88,152 Shares

Mercury Systems, Inc. (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 88,152 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $46.27, for a total transaction of $4,078,793.04. Following the transaction, the director now owns 6,861,313 shares of the company’s stock, valued at $317,472,952.51. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mercury Systems Stock Up 0.7 %

Shares of NASDAQ:MRCY opened at $46.36 on Friday. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -29.72 and a beta of 0.70. The stock’s 50-day moving average price is $46.16 and its two-hundred day moving average price is $42.81. Mercury Systems, Inc. has a 12-month low of $26.48 and a 12-month high of $52.25.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Mercury Systems had a negative net margin of 10.23% and a negative return on equity of 2.03%. The business had revenue of $211.36 million for the quarter, compared to analysts’ expectations of $204.25 million. During the same period last year, the company earned ($0.26) earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts forecast that Mercury Systems, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MRCY shares. Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Thursday, January 16th. Royal Bank of Canada increased their price objective on Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday. Truist Financial upgraded Mercury Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $56.00 in a research report on Thursday, March 13th. Finally, Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and upped their target price for the company from $37.00 to $58.00 in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.00.

Institutional Trading of Mercury Systems

Several institutional investors have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in Mercury Systems in the fourth quarter valued at $33,000. GAMMA Investing LLC raised its holdings in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock worth $46,000 after purchasing an additional 395 shares during the period. Fifth Third Bancorp lifted its stake in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after purchasing an additional 451 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after purchasing an additional 1,449 shares during the period. Finally, Nkcfo LLC purchased a new stake in shares of Mercury Systems during the 1st quarter worth about $72,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.