Jana Partners Management, Lp Sells 100,899 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 100,899 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $89.68, for a total value of $9,048,622.32. Following the transaction, the director owned 4,114,618 shares of the company’s stock, valued at approximately $368,998,942.24. This trade represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 2nd, Jana Partners Management, Lp sold 182,510 shares of Mercury Systems stock. The stock was sold at an average price of $94.05, for a total transaction of $17,165,065.50.
• On Tuesday, March 3rd, Jana Partners Management, Lp sold 168,648 shares of Mercury Systems stock. The shares were sold at an average price of $90.12, for a total value of $15,198,557.76.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00.

Mercury Systems Stock Performance

Mercury Systems stock traded down $0.25 on Wednesday, hitting $89.18. The company’s stock had a trading volume of 457,214 shares, compared to its average volume of 641,791. The company has a fifty day moving average price of $88.59 and a 200-day moving average price of $78.52. The firm has a market cap of $5.35 billion, a P/E ratio of -168.26, a price-to-earnings-growth ratio of 8.66 and a beta of 0.77. Mercury Systems Inc has a one year low of $39.89 and a one year high of $103.84. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Mercury Systems had a positive return on equity of 1.28% and a negative net margin of 3.23%.The company had revenue of $232.87 million for the quarter, compared to the consensus estimate of $209.96 million. During the same period in the previous year, the business earned $0.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

MRCY has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Truist Financial increased their target price on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price objective on shares of Mercury Systems in a research note on Wednesday, November 5th. Finally, Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $86.89.

Hedge Funds Weigh In On Mercury Systems

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Mercury Systems by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after purchasing an additional 221,093 shares during the last quarter. State Street Corp raised its position in Mercury Systems by 12.1% in the 4th quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after purchasing an additional 368,242 shares during the last quarter. Invesco Ltd. lifted its holdings in Mercury Systems by 25.1% during the 4th quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after buying an additional 383,299 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Mercury Systems by 1.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after buying an additional 21,182 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Mercury Systems by 96.3% in the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after buying an additional 751,813 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.