Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 65,000 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 65,000 shares of Mercury Systems stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $92.41, for a total value of $6,006,650.00. Following the sale, the chief executive officer directly owned 256,047 shares of the company’s stock, valued at approximately $23,661,303.27. This trade represents a 20.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mercury Systems Price Performance

Shares of MRCY stock traded down $1.85 during trading hours on Tuesday, hitting $87.74. 1,093,324 shares of the company’s stock were exchanged, compared to its average volume of 682,659. The company has a market capitalization of $5.28 billion, a PE ratio of -175.48 and a beta of 0.95. Mercury Systems Inc has a 12-month low of $65.04 and a 12-month high of $128.45. The business’s 50 day simple moving average is $107.01 and its 200-day simple moving average is $94.79. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The business had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. During the same quarter in the previous year, the business earned $0.47 EPS. Mercury Systems’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Mercury Systems Inc will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted 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 worth $32,000 after buying an additional 208 shares during the period. Leonteq Securities AG purchased a new stake in Mercury Systems in the fourth quarter worth $35,000. Hollencrest Capital Management bought a new stake in Mercury Systems in the fourth quarter valued at $37,000. Public Employees Retirement System of Ohio bought a new stake in Mercury Systems in the second quarter valued at $43,000. Finally, Federated Hermes Inc. purchased a new position in Mercury Systems during the 2nd quarter valued at $43,000. Institutional investors own 95.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MRCY shares. JPMorgan Chase & Co. increased their target price on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Royal Bank Of Canada boosted their price objective on Mercury Systems from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Canaccord Genuity Group raised their target price on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Truist Financial upped their price target on shares of Mercury Systems from $109.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.10.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.