Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 108,209 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 108,209 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $89.50, for a total value of $9,684,705.50. Following the transaction, the chief executive officer directly owned 299,836 shares of the company’s stock, valued at $26,835,322. The trade was a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mercury Systems Stock Down 2.1%

Shares of NASDAQ:MRCY opened at $87.74 on Wednesday. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week high of $128.45. The firm’s 50 day moving average price is $106.52 and its 200 day moving average price is $94.87. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -175.48 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings data 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 firm had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts predict that Mercury Systems Inc will post 0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercury Systems

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in shares of Mercury Systems by 11,902.8% in the second quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company’s stock valued at $933,404,000 after purchasing an additional 7,566,641 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Mercury Systems in the second quarter valued at approximately $376,000. Angeles Wealth Management LLC purchased a new position in shares of Mercury Systems during the 2nd quarter worth approximately $237,000. Concurrent Investment Advisors LLC acquired a new position in shares of Mercury Systems during the 2nd quarter worth approximately $234,000. Finally, Nykredit A S acquired a new position in shares of Mercury Systems during the 2nd quarter worth approximately $265,000. 95.99% of the stock is currently owned by hedge funds and other institutional investors.

More Mercury Systems News

Here are the key news stories impacting Mercury Systems this week:

• Neutral Sentiment: Reported short interest was listed at zero shares as of August 25, unchanged from zero shares previously, with a 0.0-day days-to-cover ratio. Because the data also reports an invalid “NaN” percentage change, it provides little useful signal for investors.
• Neutral Sentiment: A law firm is asking Mercury Systems shareholders to discuss their rights and options regarding alleged potential fiduciary-duty breaches. The release is an investor solicitation rather than a confirmed regulatory finding or lawsuit outcome, but it may add headline risk. Shareholder fiduciary-duty solicitation
• Negative Sentiment: CEO William L. Ballhaus sold 65,000 shares for approximately $6.0 million on August 21 at an average price of $92.41, reducing his direct ownership by 20.25%. He sold another 108,209 shares for approximately $9.7 million on August 24 at an average price of $89.50, a 26.52% reduction in ownership. The combined sales of roughly $15.7 million can be viewed as a lack of confidence by some investors, even though insider sales can also reflect diversification or personal financial planning. CEO SEC Form 4 filings
• Negative Sentiment: EVP Stuart Kupinsky sold 1,000 shares for $95,230, while EVP Steven Ratner sold 356 shares for $32,524. Kupinsky’s transaction was executed under a pre-arranged Rule 10b5-1 plan, which somewhat reduces its signaling value, but the additional executive selling reinforces the near-term bearish narrative. Executive SEC Form 4 filings

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRCY. Royal Bank Of Canada raised their target price on Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Piper Sandler reiterated an “overweight” rating and issued a $131.00 price target (up from $126.00) on shares of Mercury Systems in a research note 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 stock an “outperform” rating in a report on Wednesday, August 19th. Weiss Ratings raised Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday. Finally, Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Mercury Systems currently has an average rating of “Hold” and an average price target of $110.10.

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.