Insider Selling: Mercury Systems (NASDAQ:MRCY) CEO Sells 49,090 Shares

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 49,090 shares of Mercury Systems stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $89.10, for a total value of $4,373,919.00. Following the sale, the chief executive officer directly owned 361,822 shares in the company, valued at approximately $32,238,340.20. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY traded up $0.71 on Thursday, hitting $90.47. The company’s stock had a trading volume of 436,148 shares, compared to its average volume of 680,573. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -180.94 and a beta of 0.95. The stock’s 50-day moving average is $106.00 and its two-hundred day moving average is $94.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly 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). The business had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. Mercury Systems’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. On average, equities research analysts forecast that Mercury Systems Inc will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Robert W. Baird raised their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Canaccord Genuity Group boosted their target price on Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Zacks Research downgraded Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. increased their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Mercury Systems currently has a consensus rating of “Hold” and a consensus price target of $110.10.

Institutional Trading of Mercury Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in Mercury Systems during the second quarter valued at approximately $43,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Mercury Systems during the second quarter worth approximately $52,000. Leonteq Securities AG acquired a new position in Mercury Systems in the fourth quarter worth approximately $35,000. Hollencrest Capital Management acquired a new position in Mercury Systems in the fourth quarter worth approximately $37,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares in the last quarter. 95.99% of the stock is currently owned by institutional investors.

About Mercury Systems

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.