Mercury Systems (NASDAQ:MRCY) CEO Sells $9,676,941.12 in Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 111,076 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the transaction, the chief executive officer owned 342,436 shares in the company, valued at approximately $29,833,024.32. The trade was a 24.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mercury Systems Stock Down 2.1%

Shares of NASDAQ MRCY opened at $88.54 on Friday. Mercury Systems Inc has a 1 year low of $65.04 and a 1 year high of $128.45. The firm’s 50-day moving average is $105.02 and its 200-day moving average is $94.95. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.32 billion, a PE ratio of -177.08 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 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $289.78 million during the quarter, compared to analyst estimates of $266.09 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Mercury Systems Inc will post 0.88 EPS for the current year.

Hedge Funds Weigh In On Mercury Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Mercury Systems in the 2nd quarter valued at $43,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Mercury Systems during the second quarter worth about $52,000. Leonteq Securities AG acquired a new position in Mercury Systems in the fourth quarter valued at about $35,000. Hollencrest Capital Management acquired a new position in Mercury Systems in the fourth quarter valued at about $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 worth $32,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. Robert W. Baird increased their target price on Mercury Systems from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Weiss Ratings upgraded Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 24th. Zacks Research lowered Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.