Mercury Systems (NASDAQ:MRCY) CEO Sells $6,006,650.00 in Stock

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

Mercury Systems Stock Performance

Shares of NASDAQ:MRCY opened at $90.47 on Friday. The firm’s 50 day simple moving average is $105.53 and its 200-day simple moving average is $95.00. 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 Inc has a one year low of $65.04 and a one year high of $128.45. The firm has a market cap of $5.44 billion, a PE ratio of -180.94 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The firm 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 firm posted $0.47 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Mercury Systems Inc will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MRCY. Osaic Holdings Inc. increased its holdings in shares of Mercury Systems by 53.2% during the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after acquiring an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new position in Mercury Systems during the 4th quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in shares of Mercury Systems in the fourth quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new position in shares of Mercury Systems in the second quarter worth $43,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Mercury Systems during the second quarter worth $43,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “hold” rating and issued a $115.00 target price on shares of Mercury Systems in a report on Friday, July 10th. Truist Financial upped their price objective on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. The Goldman Sachs Group increased their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Robert W. Baird boosted their price target on shares of Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Finally, Zacks Research downgraded shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Hold” and a consensus target price 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.