Mercury Systems, Inc. (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 88,152 Shares

Mercury Systems, Inc. (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 88,152 shares of Mercury Systems stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $46.27, for a total value of $4,078,793.04. Following the transaction, the director now directly owns 6,861,313 shares in the company, valued at approximately $317,472,952.51. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mercury Systems Price Performance

Shares of MRCY opened at $46.36 on Friday. The company has a current ratio of 3.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $46.16 and its two-hundred day moving average is $42.81. Mercury Systems, Inc. has a twelve month low of $26.48 and a twelve month high of $52.25. The firm has a market capitalization of $2.77 billion, a PE ratio of -29.72 and a beta of 0.70.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $211.36 million for the quarter, compared to the consensus estimate of $204.25 million. Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.26) earnings per share. Research analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share 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 stock. Neo Ivy Capital Management acquired a new stake in shares of Mercury Systems in the fourth quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company’s stock valued at $46,000 after buying an additional 395 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Mercury Systems by 53.8% during the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company’s stock valued at $56,000 after acquiring an additional 451 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Mercury Systems by 762.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,639 shares of the technology company’s stock worth $69,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Nkcfo LLC acquired a new stake in shares of Mercury Systems in the 1st quarter worth approximately $72,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MRCY has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on shares of Mercury Systems from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday. Robert W. Baird upgraded shares of Mercury Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $37.00 to $58.00 in a research note on Wednesday, February 5th. The Goldman Sachs Group increased their target price on shares of Mercury Systems from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Thursday, January 16th. Baird R W raised Mercury Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Truist Financial raised Mercury Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $49.00 to $56.00 in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.00.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.