Insider Selling: Mercury Systems (NASDAQ:MRCY) Director Sells 1,000,000 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $75.45, for a total value of $75,450,000.00. Following the completion of the sale, the director directly owned 4,966,675 shares of the company’s stock, valued at $374,735,628.75. This trade represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jana Partners Management, Lp also recently made the following trade(s):

• On Wednesday, August 13th, Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00.

Mercury Systems Trading Up 0.8%

NASDAQ:MRCY traded up $0.58 on Monday, hitting $74.65. The stock had a trading volume of 536,092 shares, compared to its average volume of 623,825. The company has a fifty day moving average price of $75.99 and a two-hundred day moving average price of $61.31. Mercury Systems Inc has a 1-year low of $37.28 and a 1-year high of $85.33. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -113.10, a PEG ratio of 3.17 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. The firm had revenue of $256.86 million for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Equities research analysts expect that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MRCY. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on shares of Mercury Systems from $35.00 to $39.00 and gave the company a “sell” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mercury Systems has a consensus rating of “Moderate Buy” and an average price target of $76.67.

Hedge Funds Weigh In On Mercury Systems

Several hedge funds have recently added to or reduced their stakes in MRCY. Salomon & Ludwin LLC purchased a new stake in shares of Mercury Systems in the third quarter valued at about $32,000. Osaic Holdings Inc. boosted its holdings in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares in the last quarter. Quaker Wealth Management LLC increased its position in Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,288 shares during the period. Federated Hermes Inc. purchased a new position in shares of Mercury Systems during the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC raised its stake in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after buying an additional 168 shares in the last quarter. 95.99% of the stock is currently 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.